Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sees Large Decrease in Short Interest

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 176,962 shares, a decrease of 23.1% from the December 15th total of 230,103 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 75,575 shares, the days-to-cover ratio is presently 2.3 days. Based on an average daily trading volume, of 75,575 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.4% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) has a consensus rating of “Hold” and a consensus target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Price Performance

EDN traded up $0.77 during trading on Friday, reaching $27.10. 75,850 shares of the company were exchanged, compared to its average volume of 64,145. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 6.48 and a beta of 1.79. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12-month low of $14.38 and a 12-month high of $40.64. The company’s 50-day moving average is $31.15 and its two-hundred day moving average is $25.98.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last posted its earnings results on Friday, November 7th. The utilities provider reported $0.67 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.82% and a return on equity of 11.33%. The business had revenue of $536.96 million for the quarter. Research analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Large investors have recently added to or reduced their stakes in the company. Jump Financial LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth $320,000. Jane Street Group LLC purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth about $455,000. Tidal Investments LLC grew its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 4,152 shares during the period. Ping Capital Management Inc. increased its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% in the 2nd quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock worth $726,000 after acquiring an additional 2,000 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after purchasing an additional 239,379 shares in the last quarter. Hedge funds and other 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.