Adyen (OTCMKTS:ADYEY) Sees Strong Trading Volume – Time to Buy?

Adyen N.V. Unsponsored ADR (OTCMKTS:ADYEY) saw unusually-high trading volume on Monday . Approximately 3,806,344 shares were traded during trading, an increase of 125% from the previous session’s volume of 1,694,918 shares.The stock last traded at $11.37 and had previously closed at $11.45.

Analyst Upgrades and Downgrades

ADYEY has been the topic of a number of recent research reports. Morgan Stanley restated an “overweight” rating on shares of Adyen in a research note on Friday, January 9th. Cantor Fitzgerald initiated coverage on shares of Adyen in a research note on Monday, January 26th. They set an “overweight” rating on the stock. Wolfe Research upgraded shares of Adyen from a “hold” rating to an “outperform” rating in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Adyen in a research note on Monday. Finally, BMO Capital Markets initiated coverage on shares of Adyen in a research note on Tuesday, April 21st. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Adyen Stock Performance

The stock’s fifty day moving average is $10.72 and its two-hundred day moving average is $13.98.

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.