Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Gap Up – Here’s Why

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) gapped up prior to trading on Thursday . The stock had previously closed at $32.88, but opened at $33.73. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $33.79, with a volume of 3,532 shares trading hands.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The stock has a market capitalization of $1.43 billion, a P/E ratio of 6.12 and a beta of 1.38. The company’s 50 day simple moving average is $35.84 and its two-hundred day simple moving average is $34.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 111.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 544,388 shares of the utilities provider’s stock worth $23,360,000 after acquiring an additional 286,989 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter valued at approximately $6,272,000. William Blair Investment Management LLC acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the fourth quarter valued at approximately $5,012,000. Mirabella Financial Services LLP acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth $3,152,000. Finally, SPX Gestao de Recursos Ltda bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter worth $2,938,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

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.