Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Down 2.6% – Here’s What Happened

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) traded down 2.6% during trading on Thursday . The stock traded as low as $44.44 and last traded at $44.69. 81,205 shares traded hands during trading, a decline of 23% from the average session volume of 105,617 shares. The stock had previously closed at $45.89.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The business has a 50-day moving average price of $36.04 and a two-hundred day moving average price of $24.84. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 8.69 and a beta of 1.45.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Large investors have recently added to or reduced their stakes in the business. Helikon Investments Ltd boosted its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 61.3% during the third quarter. Helikon Investments Ltd now owns 809,902 shares of the utilities provider’s stock worth $17,947,000 after purchasing an additional 307,642 shares during the last quarter. Ping Capital Management Inc. purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 2nd quarter worth approximately $941,000. BlueCrest Capital Management Ltd grew its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% in the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock valued at $1,108,000 after acquiring an additional 20,000 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock valued at $911,000 after purchasing an additional 40,173 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter worth about $260,000. Institutional investors own 1.64% of the company’s stock.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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.