Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Strong Trading Volume – Time to Buy?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shares saw strong trading volume on Wednesday . 140,344 shares were traded during mid-day trading, an increase of 82% from the previous session’s volume of 77,228 shares.The stock last traded at $22.10 and had previously closed at $21.68.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Up 5.0 %

The business’s 50 day simple moving average is $20.09 and its 200-day simple moving average is $18.23. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.76 and a quick ratio of 0.63. The stock has a market capitalization of $1.03 billion, a P/E ratio of 3.56 and a beta of 1.39.

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

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of hedge funds have recently modified their holdings of EDN. BNP Paribas Financial Markets increased 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 valued at $56,000 after buying an additional 2,976 shares in the last quarter. Ping Capital Management Inc. acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the second quarter valued at about $941,000. Finally, Helikon Investments Ltd increased its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 15.3% in the first quarter. Helikon Investments Ltd now owns 345,218 shares of the utilities provider’s stock worth $6,107,000 after acquiring an additional 45,901 shares in the last quarter. 1.64% of the stock is currently owned by institutional investors and hedge funds.

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.