Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Down 11.2% – Here’s What Happened

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) dropped 11.2% during trading on Monday . The company traded as low as $31.54 and last traded at $32.10. Approximately 132,890 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 139,019 shares. The stock had previously closed at $36.15.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69. The company has a fifty day moving average price of $37.44 and a 200 day moving average price of $33.19. The company has a market capitalization of $1.50 billion, a P/E ratio of 6.45 and a beta of 1.38.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of large investors have recently modified their holdings of the company. Voloridge Investment Management LLC acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter valued at about $258,000. Two Sigma Investments LP bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter worth approximately $386,000. Tidal Investments LLC acquired a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter valued at approximately $519,000. Millennium Management LLC raised its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 177.7% during the 4th quarter. Millennium Management LLC now owns 102,615 shares of the utilities provider’s stock valued at $4,403,000 after acquiring an additional 65,666 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 111.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 544,388 shares of the utilities provider’s stock worth $23,360,000 after acquiring an additional 286,989 shares during the period. Institutional investors and hedge funds 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.