Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Large Volume Increase – Time to Buy?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) saw unusually-high trading volume on Friday . Approximately 49,560 shares were traded during mid-day trading, a decline of 40% from the previous session’s volume of 83,095 shares.The stock last traded at $31.46 and had previously closed at $29.10.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.63 and a current ratio of 0.76. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 3.91 and a beta of 1.39. The business has a fifty day moving average price of $22.55 and a 200 day moving average price of $18.91.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $1.46 EPS for the quarter, topping the consensus estimate of ($0.05) by $1.51. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 31.06% and a net margin of 17.06%. The firm had revenue of $551.43 million during the quarter. During the same period in the previous year, the firm posted ($0.48) EPS. As a group, research analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current year.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of hedge funds have recently added to or reduced their stakes in EDN. BNP Paribas Financial Markets lifted its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 2,976 shares during the last quarter. Helikon Investments Ltd increased its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% in the 2nd quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider’s stock worth $8,232,000 after purchasing an additional 157,042 shares in the last quarter. Finally, Ping Capital Management Inc. bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the second quarter valued at about $941,000. Institutional investors and hedge funds own 1.64% of the company’s stock.

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.