Short Interest in Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) Drops By 34.9%

Key Points

• Short interest in Adyen's unsponsored ADR fell 34.9% to 617,961 shares as of March 31, leaving a short-interest ratio of 0.3 days and effectively 0.0% of shares sold short.
• Analysts have become more bullish, with multiple upgrades (Morgan Stanley, Wolfe Research, KeyCorp, Cantor Fitzgerald) and an average rating of "Buy", including two Strong Buy and seven Buy ratings.
• ADYEY opened at $10.55 and was up 5.2% on the day, trading near its 12‑month low of $9.45 with a 50‑day SMA of $11.03 versus a 200‑day SMA of $14.40, suggesting recent weakness relative to longer‑term levels.

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY - Get Free Report) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 617,961 shares, a decline of 34.9% from the March 15th total of 949,939 shares. Based on an average daily volume of 2,351,326 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ADYEY. Morgan Stanley reissued an "overweight" rating on shares of Adyen in a report on Friday, January 9th. Wolfe Research raised shares of Adyen from a "hold" rating to an "outperform" rating in a report on Thursday, January 8th. KeyCorp raised shares of Adyen to a "strong-buy" rating in a report on Friday, January 23rd. Finally, Cantor Fitzgerald began coverage on shares of Adyen in a report on Monday, January 26th. They set an "overweight" rating for the company. Two analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy".

Adyen Stock Up 5.2%

Shares of ADYEY stock opened at $10.55 on Tuesday. Adyen has a 12 month low of $9.45 and a 12 month high of $19.94. The company has a 50 day simple moving average of $11.03 and a two-hundred day simple moving average of $14.40.

About Adyen

Adyen is a global payments technology company that provides an end-to-end platform for accepting and processing electronic payments across online, mobile and point-of-sale channels. Its core services include payment gateway and acquiring capabilities, fraud prevention and risk management, settlement and reconciliation, and tools for recurring and marketplace payments. The platform is designed to consolidate multiple payment functions into a single integration, enabling merchants to accept a wide range of local and international payment methods and currencies.

Founded in 2006 and headquartered in Amsterdam, Adyen was established by Pieter van der Does and Arnout Schuijff to simplify cross-border payments for international merchants.

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