Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Down 3.4% – What’s Next?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) traded down 3.4% during trading on Wednesday . The stock traded as low as $40.29 and last traded at $40.71. 45,121 shares traded hands during trading, a decline of 52% from the average session volume of 94,802 shares. The stock had previously closed at $42.14.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Down 4.8 %

The firm has a fifty day simple moving average of $29.21 and a 200-day simple moving average of $21.84. The firm has a market cap of $1.82 billion, a P/E ratio of 8.20 and a beta of 1.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EDN. Helikon Investments Ltd lifted its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% in the second quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider’s stock valued at $8,232,000 after purchasing an additional 157,042 shares in the last quarter. Ping Capital Management Inc. purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the second quarter valued at $941,000. BNP Paribas Financial Markets grew its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% during the third quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock worth $911,000 after buying an additional 40,173 shares in the last quarter. Walleye Capital LLC purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth about $237,000. Finally, BlueCrest Capital Management Ltd lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% during the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 1.64% of the company’s stock.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is involved in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur SA.