Edenred (OTCMKTS:EDNMY) Stock Price Down 18.5% – Should You Sell?

Edenred (OTCMKTS:EDNMY) traded down 18.5% during trading on Friday . The stock traded as low as $12.22 and last traded at $12.22. 3,644 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 20,237 shares. The stock had previously closed at $15.00.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EDNMY. Zacks Research upgraded Edenred from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Jefferies Financial Group restated a “hold” rating on shares of Edenred in a research note on Wednesday, June 10th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Edenred in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Edenred currently has an average rating of “Hold”.

Edenred Stock Up 1.3%

The stock has a fifty day moving average of $13.05 and a 200 day moving average of $11.64.

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.