Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading 8.8% Higher – What’s Next?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shares shot up 8.8% on Tuesday . The stock traded as high as $36.06 and last traded at $35.89. 519,079 shares were traded during mid-day trading, an increase of 34% from the average session volume of 387,787 shares. The stock had previously closed at $32.98.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The business has a 50-day moving average of $40.82 and a two-hundred day moving average of $28.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69. The company has a market cap of $1.64 billion, a P/E ratio of 7.04 and a beta of 1.42.

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

Several hedge funds have recently modified their holdings of EDN. Helikon Investments Ltd raised its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 61.3% in the 3rd quarter. Helikon Investments Ltd now owns 809,902 shares of the utilities provider’s stock worth $17,947,000 after acquiring an additional 307,642 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 79,299 shares of the utilities provider’s stock worth $1,757,000 after purchasing an additional 2,610 shares during the last quarter. BlueCrest Capital Management Ltd lifted its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% during the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 20,000 shares during the period. BNP Paribas Financial Markets boosted its position in 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 valued at $911,000 after buying an additional 40,173 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter worth approximately $920,000. Institutional investors and hedge funds own 1.64% of the company’s stock.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

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.