Edenred (OTCMKTS:EDNMY) Stock Price Down 10% – Here’s Why

Edenred (OTCMKTS:EDNMY) shares dropped 10% on Tuesday . The company traded as low as $12.60 and last traded at $12.60. Approximately 986 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 18,617 shares. The stock had previously closed at $14.00.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EDNMY. Jefferies Financial Group reiterated a “hold” rating on shares of Edenred in a research note on Wednesday, June 10th. Citigroup restated a “neutral” rating on shares of Edenred in a report on Friday, April 24th. Zacks Research raised Edenred from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Kepler Capital Markets upgraded Edenred to a “strong-buy” rating in a report on Sunday, March 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Edenred has an average rating of “Hold”.

Edenred Stock Performance

The company’s 50-day simple moving average is $12.50 and its 200 day simple moving average is $11.29.

Edenred Company Profile

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.