Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Gap Down to $16.55

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $16.55, but opened at $16.19. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $16.35, with a volume of 2,742 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The firm has a market capitalization of $758.20 million, a P/E ratio of 2.64 and a beta of 1.51. The company has a 50-day moving average price of $17.44 and a 200-day moving average price of $17.99. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.67 and a current ratio of 0.79.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last released its quarterly earnings data on Friday, May 10th. The utilities provider reported $1.39 EPS for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 14.11% and a return on equity of 25.90%. The business had revenue of $331.11 million during the quarter. On average, sell-side analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently made changes to their positions in EDN. BNP Paribas Financial Markets increased its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 2,976 shares during the last quarter. Autonomy Capital Jersey L.P. bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth $78,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,039 shares of the utilities provider’s stock valued at $2,093,000 after purchasing an additional 33,510 shares during the last quarter. Finally, Helikon Investments Ltd raised its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% in the fourth quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock valued at $5,798,000 after purchasing an additional 27,578 shares during the period. 1.64% of the stock is owned by institutional investors.

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.