Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Down 5% – What’s Next?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price dropped 5% on Friday . The stock traded as low as $29.25 and last traded at $29.74. Approximately 98,759 shares traded hands during trading, a decline of 31% from the average daily volume of 143,781 shares. The stock had previously closed at $31.32.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “hold” rating to a “buy” rating in a research report on Friday, May 23rd.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The company’s fifty day moving average is $32.13 and its two-hundred day moving average is $35.86. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 5.67 and a beta of 1.54. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.15.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its earnings results on Friday, May 9th. The utilities provider reported $0.78 EPS for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 10.22% and a return on equity of 18.97%. The company had revenue of $605.33 million during the quarter. Equities research analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 1.38 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 1st quarter valued at approximately $103,000. Jane Street Group LLC bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the fourth quarter valued at approximately $207,000. NewEdge Advisors LLC acquired a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the fourth quarter worth $257,000. Voloridge Investment Management LLC bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter worth $258,000. Finally, Jump Financial LLC acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter valued at $275,000. 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.