Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.05 and traded as high as $34.40. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $32.4750, with a volume of 93,730 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EDN shares. Morgan Stanley restated an “equal weight” rating and issued a $36.00 target price on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 2.1%

The firm’s fifty day moving average is $21.09 and its 200-day moving average is $26.05. The company has a market capitalization of $1.47 billion, a P/E ratio of 5.19 and a beta of 1.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.99.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its earnings results on Monday, August 11th. The utilities provider reported $1.85 earnings per share for the quarter. The firm had revenue of $543.69 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 11.55% and a return on equity of 18.04%. As a group, equities research analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

Hedge Funds Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Helikon Investments Ltd boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% during the first quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider’s stock valued at $62,028,000 after purchasing an additional 1,466,500 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after buying an additional 239,379 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% during 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 last quarter. Ping Capital Management Inc. grew its holdings 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 worth $784,000 after acquiring an additional 23,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in 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 valued at $1,192,000 after acquiring an additional 22,848 shares during the period. Institutional investors and hedge funds own 1.64% of the company’s stock.

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

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.