Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Up 8.8% – Time to Buy?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price traded up 8.8% on Tuesday . The stock traded as high as $36.06 and last traded at $35.89. 519,079 shares changed hands during trading, an increase of 34% from the average session volume of 387,787 shares. The stock had previously closed at $32.98.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The firm’s 50 day moving average is $40.82 and its 200-day moving average is $28.20. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 7.04 and a beta of 1.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.69 and a current ratio of 0.82.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Helikon Investments Ltd raised its position 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 acquiring an additional 307,642 shares during the period. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 40,173 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 73.7% during the 4th quarter. GAMMA Investing LLC now owns 1,596 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 677 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter valued at about $260,000. Finally, JPMorgan Chase & Co. lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 79,299 shares of the utilities provider’s stock valued at $1,757,000 after buying an additional 2,610 shares in the last quarter. Hedge funds and other 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.