Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sees Significant Increase in Short Interest
by Michael Walen · The Markets DailyEmpresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 329,607 shares, an increase of 20.5% from the March 15th total of 273,500 shares. Based on an average daily volume of 177,595 shares, the short-interest ratio is presently 1.9 days. Approximately 0.7% of the shares of the stock are short sold.
Analyst Upgrades and Downgrades
EDN has been the subject of several research analyst reports. Wall Street Zen raised Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Friday, March 27th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.00.
View Our Latest Stock Analysis on Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)
Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Price Performance
EDN stock traded down $0.54 during mid-day trading on Friday, hitting $27.10. 144,212 shares of the stock were exchanged, compared to its average volume of 166,398. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.07 and a quick ratio of 0.91. The business has a fifty day moving average price of $28.07 and a 200 day moving average price of $28.15. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12 month low of $14.38 and a 12 month high of $38.10. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 6.33 and a beta of 1.71.
Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN – Get Free Report) last released its earnings results on Sunday, February 15th. The utilities provider reported $0.80 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 11.40% and a net margin of 8.10%.The company had revenue of $525.20 million during the quarter. On average, sell-side analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.
Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)
A number of hedge funds and other institutional investors have recently modified their holdings of EDN. Van ECK Associates Corp lifted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the 4th quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 367 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 556 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter valued at about $320,000. Millennium Management LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at about $366,000. Finally, Jane Street Group LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter valued at about $455,000. Institutional investors own 1.64% of the company’s stock.
About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)
Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina’s largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country’s energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company’s shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina’s regulated power market.
Edenor’s primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.