Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Up 6.1% – Here’s What Happened

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shot up 6.1% during trading on Tuesday . The company traded as high as $36.14 and last traded at $36.01. 205,508 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 418,497 shares. The stock had previously closed at $33.93.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The business’s 50-day moving average price is $40.48 and its 200 day moving average price is $27.34. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.65 billion, a P/E ratio of 7.06 and a beta of 1.42.

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Several hedge funds have recently bought and sold shares of EDN. GAMMA Investing LLC raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 73.7% during the fourth quarter. GAMMA Investing LLC now owns 1,596 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 677 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth approximately $237,000. Quadrature Capital Ltd purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth approximately $260,000. BNP Paribas Financial Markets raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% during the third quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock worth $911,000 after acquiring an additional 40,173 shares in the last quarter. Finally, BlueCrest Capital Management Ltd raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% during the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 20,000 shares in the last quarter. 1.64% of the stock is currently 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.