Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Short Interest Drops 44.4%

by · The Markets Daily

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN – Get Free Report) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 383,164 shares, a decrease of 44.4% from the September 30th total of 689,099 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average trading volume of 233,213 shares, the short-interest ratio is presently 1.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Get Our Latest Analysis on Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

An institutional investor recently bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock. Engineers Gate Manager LP purchased a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,620 shares of the utilities provider’s stock, valued at approximately $265,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 2.9%

NYSE EDN traded down $0.45 during trading hours on Monday, reaching $15.18. The company had a trading volume of 131,809 shares, compared to its average volume of 193,238. The stock has a 50-day moving average of $21.45 and a 200 day moving average of $25.31. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1-year low of $15.00 and a 1-year high of $36.70. The company has a current ratio of 1.46, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $686.74 million, a P/E ratio of 4.06 and a beta of 1.35.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN – Get Free Report) last announced its earnings results on Tuesday, August 11th. The utilities provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.81. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.46% and a return on equity of 10.31%. The company had revenue of $618.97 million during the quarter, compared to analyst estimates of $217.79 million. As a group, research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.17 earnings per share for the current fiscal year.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

(Get Free Report)

Empresa Distribuidora y Comercializadora Norte SA, commonly known as Edenor, is an Argentine electric utility that distributes electricity to residential, commercial and industrial customers. The company operates and maintains the low-, medium- and high-voltage distribution network, manages customer connections and metering, and provides related billing and customer-support services.

Edenor serves the northern and northwestern areas of the Buenos Aires metropolitan region, including portions of the Autonomous City of Buenos Aires and surrounding municipalities in Buenos Aires Province.

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