Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Gap Up – Still a Buy?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shares gapped up prior to trading on Friday . The stock had previously closed at $36.12, but opened at $37.55. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $37.32, with a volume of 25,420 shares changing hands.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The company has a market capitalization of $1.65 billion, a PE ratio of 7.09 and a beta of 1.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.69 and a current ratio of 0.82. The company has a 50 day moving average price of $40.89 and a 200 day moving average price of $28.49.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Several institutional investors and hedge funds have recently bought and sold shares of EDN. Helikon Investments Ltd lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 61.3% in the third quarter. Helikon Investments Ltd now owns 809,902 shares of the utilities provider’s stock valued at $17,947,000 after buying an additional 307,642 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% in the third quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock worth $911,000 after buying an additional 40,173 shares during the period. Verde Servicos Internacionais S.A. acquired a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter valued at $920,000. BlueCrest Capital Management Ltd boosted its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% during the 3rd quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 20,000 shares during the period. Finally, ABS Direct Equity Fund LLC purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter valued at approximately $731,000. Institutional investors and hedge funds own 1.64% of the company’s stock.

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.