Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Share Price Passes Above 200-Day Moving Average – What’s Next?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.18 and traded as high as $33.29. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $31.5540, with a volume of 155,291 shares trading hands.

Wall Street Analysts Forecast Growth

EDN has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating and set a $36.00 price target on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, August 20th. Finally, Wall Street Zen downgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 6.4%

The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $23.07 and a 200-day moving average price of $26.19. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 4.70 and a beta of 1.64.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several institutional investors and hedge funds have recently made changes to their positions in EDN. Helikon Investments Ltd boosted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% in the first quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider’s stock valued at $62,028,000 after acquiring an additional 1,466,500 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider’s stock worth $18,228,000 after acquiring an additional 52,478 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after acquiring an additional 239,379 shares in the last quarter. Ping Capital Management Inc. boosted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% during the 3rd quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock valued at $784,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 141.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 39,031 shares of the utilities provider’s stock worth $1,192,000 after purchasing an additional 22,848 shares during the last quarter. 1.64% of the stock is owned by institutional investors and hedge funds.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) 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.