Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Short Interest Up 23.5% in January

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 256,807 shares, a growth of 23.5% from the January 15th total of 207,869 shares. Based on an average daily volume of 139,358 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.6% of the shares of the company are sold short. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 139,358 shares, the days-to-cover ratio is currently 1.8 days.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% during the 4th quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 367 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock worth $47,000 after buying an additional 556 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at $468,000. Goldman Sachs Group Inc. boosted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock valued at $2,409,000 after acquiring an additional 27,486 shares in the last quarter. Finally, Ping Capital Management Inc. boosted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% during the 4th quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider’s stock valued at $1,570,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 1.64% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.00.

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

EDN stock opened at $28.34 on Tuesday. The company’s 50-day moving average price is $29.76 and its two-hundred day moving average price is $26.47. The firm has a market cap of $1.28 billion, a P/E ratio of 6.78 and a beta of 1.75. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12 month low of $14.38 and a 12 month high of $40.26.

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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Company Profile

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.