Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.87 and traded as high as $31.45. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $30.1860, with a volume of 73,517 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Monday. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has an average rating of “Hold” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 1.9%

The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 7.22 and a beta of 1.81. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $31.17 and a 200-day moving average price of $25.87.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.67 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 11.33% and a net margin of 7.82%.The firm had revenue of $536.96 million during the quarter. As a group, research analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ping Capital Management Inc. grew its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the 2nd quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock valued at $726,000 after purchasing an additional 2,000 shares in the last quarter. Tidal Investments LLC grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 4,152 shares in the last quarter. Jump Financial LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth $320,000. Walleye Capital LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 1st quarter worth about $373,000. Finally, Jane Street Group LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter worth about $455,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

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.