Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sees Significant Decline in Short Interest

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 383,164 shares, a decrease of 44.4% from the September 30th total of 689,099 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 233,213 shares, the days-to-cover ratio is presently 1.6 days.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 5.9%

NYSE EDN traded down $0.99 during trading hours on Friday, reaching $15.67. 118,472 shares of the company’s stock traded hands, compared to its average volume of 193,135. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.46 and a quick ratio of 1.28. The firm has a 50-day simple moving average of $21.59 and a 200 day simple moving average of $25.38. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52-week low of $15.55 and a 52-week high of $36.70. The firm has a market cap of $709.05 million, a PE ratio of 3.74 and a beta of 1.35.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last announced its quarterly earnings data on Tuesday, August 11th. The utilities provider reported $0.64 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.81. The firm had revenue of $618.97 million for the quarter, compared to the consensus estimate of $217.79 million. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.46% and a return on equity of 10.31%. Sell-side analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.17 EPS for the current fiscal year.

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

An institutional investor recently bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock. Engineers Gate Manager LP bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,620 shares of the utilities provider’s stock, valued at approximately $265,000. Institutional investors own 1.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has an average rating of “Reduce”.

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

Empresa Distribuidora y Comercializadora Norte SA, commonly known as Edenor, is an Argentine electric utility that distributes electricity to residential, commercial and industrial customers. The company operates and maintains the low-, medium- and high-voltage distribution network, manages customer connections and metering, and provides related billing and customer-support services.

Edenor serves the northern and northwestern areas of the Buenos Aires metropolitan region, including portions of the Autonomous City of Buenos Aires and surrounding municipalities in Buenos Aires Province.