Edenred (OTCMKTS:EDNMY) Sees Strong Trading Volume – Here’s What Happened

Shares of Edenred (OTCMKTS:EDNMY) saw unusually-strong trading volume on Wednesday . Approximately 119,887 shares were traded during mid-day trading, an increase of 431% from the previous session’s volume of 22,587 shares.The stock last traded at $12.68 and had previously closed at $12.25.

Analysts Set New Price Targets

A number of equities research analysts have commented on EDNMY shares. Zacks Research downgraded shares of Edenred from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 8th. UBS Group downgraded shares of Edenred from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Kepler Capital Markets raised shares of Edenred to a “strong-buy” rating in a research report on Sunday, March 15th. Citigroup reaffirmed a “neutral” rating on shares of Edenred in a research report on Friday, April 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Edenred in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold”.

Edenred Stock Performance

The company’s 50 day moving average price is $10.96 and its two-hundred day moving average price is $11.22.

About Edenred

Edenred is a global leader in prepaid corporate services, offering a suite of digital and paper-based solutions designed to enhance employee benefits, streamline expense management and support corporate fleets. The company originated in 1962 as part of the Accor group and was listed as an independent entity on Euronext Paris in 2010. Today, Edenred operates under the Ticket Restaurant® brand, which remains a flagship offering for meal voucher programs, alongside a host of other employee engagement and incentive tools.

The company’s core products and services include employee benefits such as meal vouchers, food allowances and leisure gift certificates, as well as incentive and rewards programs that help organizations motivate and recognize their workforce.