Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

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 $18.07 and traded as high as $22.51. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $22.23, with a volume of 68,915 shares.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Up 0.1 %

The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 3.56 and a beta of 1.39. The business has a 50-day moving average of $19.75 and a two-hundred day moving average of $18.13. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 0.09.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ping Capital Management Inc. bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter worth about $941,000. Helikon Investments Ltd grew its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% during the 2nd quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider’s stock worth $8,232,000 after acquiring an additional 157,042 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 2,976 shares in 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.