Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Up 3.2% – Time to Buy?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price traded up 3.2% on Monday . The company traded as high as $35.65 and last traded at $35.19. 21,998 shares were traded during mid-day trading, a decline of 88% from the average session volume of 180,316 shares. The stock had previously closed at $34.11.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Up 3.4%

The business’s fifty day simple moving average is $31.40 and its 200 day simple moving average is $36.08. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 7.23 and a beta of 1.53. The company has a current ratio of 0.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.15.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last released its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.78 earnings per share for the quarter. The business had revenue of $605.33 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 10.22% and a return on equity of 18.97%. Equities analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 1.38 earnings per share for the current fiscal year.

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

Several hedge funds have recently made changes to their positions in EDN. SG Americas Securities LLC bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter worth about $101,000. Advisors Preferred LLC acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 1st quarter worth approximately $103,000. Jane Street Group LLC acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth approximately $207,000. NewEdge Advisors LLC bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth approximately $257,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth approximately $258,000. 1.64% of the stock is owned by institutional investors.

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.