Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Pass Above 200-Day Moving Average – Time to Sell?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.42 and traded as high as $23.77. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $22.62, with a volume of 80,677 shares.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 3.57 and a beta of 1.39. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $20.87 and a 200-day simple moving average of $18.42.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $1.51. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. The business had revenue of $551.43 million during the quarter. During the same quarter last year, the firm posted ($0.48) EPS. On average, analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current year.

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

Several large investors have recently modified their holdings of the stock. Helikon Investments Ltd increased its holdings in 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 buying an additional 157,042 shares during the last quarter. Ping Capital Management Inc. bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth approximately $941,000. Finally, BNP Paribas Financial Markets grew its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 2,976 shares in the last quarter. 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.