Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Significant Growth in Short Interest

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 90,600 shares, an increase of 34.4% from the August 15th total of 67,400 shares. Based on an average trading volume of 57,400 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

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

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

Several hedge funds and other institutional investors have recently bought and sold shares of EDN. BNP Paribas Financial Markets raised its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% during the first quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 2,976 shares during the period. Ping Capital Management Inc. acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter valued at about $941,000. Finally, Helikon Investments Ltd raised its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% during 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. Institutional investors and hedge funds own 1.64% of the company’s stock.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima stock traded up $0.11 during mid-day trading on Monday, reaching $24.67. The company had a trading volume of 79,035 shares, compared to its average volume of 75,356. The company has a market cap of $1.12 billion, a P/E ratio of 3.88 and a beta of 1.40. The business has a fifty day simple moving average of $17.76 and a 200 day simple moving average of $17.43. The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 0.09. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a fifty-two week low of $10.06 and a fifty-two week high of $25.52.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $1.51. The company had revenue of $551.43 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. During the same quarter last year, the firm posted ($0.48) EPS. On average, equities research analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -2.33 earnings per share for the current year.

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.