Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Short Interest Up 88.3% in May

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 742,228 shares, an increase of 88.3% from the April 30th total of 394,274 shares. Based on an average trading volume of 205,139 shares, the days-to-cover ratio is presently 3.6 days. Currently, 1.6% of the shares of the stock are sold short.

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

Several institutional investors have recently added to or reduced their stakes in EDN. Jump Financial LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at $320,000. Jane Street Group LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at $455,000. BNP Paribas Financial Markets increased its stake in 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 purchasing an additional 239,379 shares during the last quarter. Tidal Investments LLC increased its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after purchasing an additional 4,152 shares during the last quarter. Finally, Ping Capital Management Inc. increased its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% in the fourth quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider’s stock valued at $1,570,000 after purchasing an additional 2,000 shares during the last quarter. 1.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EDN. Zacks Research raised Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a report on Thursday, May 14th. Wall Street Zen raised Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Friday, March 27th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.00.

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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock opened at $26.93 on Thursday. The firm has a market capitalization of $1.22 billion, a P/E ratio of 4.99 and a beta of 1.44. The stock has a fifty day moving average price of $26.70 and a 200 day moving average price of $28.57. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $14.38 and a 52 week high of $36.70. The company has a current ratio of 1.19, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its earnings results on Sunday, February 15th. The utilities provider reported $0.80 EPS for the quarter. The firm had revenue of $525.20 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 13.79% and a net margin of 10.25%. Equities research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 earnings per share for the current year.

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

Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina’s largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country’s energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company’s shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina’s regulated power market.

Edenor’s primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.