Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Strong Trading Volume – What’s Next?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) saw strong trading volume on Wednesday . 140,344 shares changed hands during mid-day trading, an increase of 82% from the previous session’s volume of 77,228 shares.The stock last traded at $22.10 and had previously closed at $21.68.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Up 5.0 %

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 3.56 and a beta of 1.39. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.63 and a current ratio of 0.76. The business’s 50-day moving average is $20.09 and its 200-day moving average is $18.23.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $1.51. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. The company had revenue of $551.43 million during the quarter. During the same quarter last year, the firm posted ($0.48) EPS. On average, equities analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 EPS for the current year.

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after buying an additional 2,976 shares during the last quarter. Helikon Investments Ltd increased its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 15.3% in the first quarter. Helikon Investments Ltd now owns 345,218 shares of the utilities provider’s stock worth $6,107,000 after purchasing an additional 45,901 shares during the period. Finally, Ping Capital Management Inc. bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth about $941,000. Institutional investors 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.