Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Down 3.2%

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) dropped 3.2% during trading on Tuesday . The stock traded as low as $16.73 and last traded at $16.85. Approximately 33,525 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 77,226 shares. The stock had previously closed at $17.40.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a report on Monday, March 18th.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The company has a fifty day moving average price of $17.53 and a two-hundred day moving average price of $16.49. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 0.10. The company has a market cap of $754.58 million, a price-to-earnings ratio of 4.63 and a beta of 1.43.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its quarterly earnings data on Monday, March 11th. The utilities provider reported ($0.25) earnings per share (EPS) for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 8.22% and a return on equity of 15.78%. The business had revenue of $785.09 million during the quarter. As a group, equities research analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 EPS for the current fiscal year.

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

Institutional investors have recently bought and sold shares of the business. Helikon Investments Ltd raised its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 133.1% during the third quarter. Helikon Investments Ltd now owns 271,739 shares of the utilities provider’s stock worth $3,261,000 after acquiring an additional 155,145 shares during the last quarter. Citigroup Inc. bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth $1,179,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,039 shares of the utilities provider’s stock worth $2,093,000 after acquiring an additional 33,510 shares during the last quarter. Finally, Autonomy Capital Jersey L.P. bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth $78,000. 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.