Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sees Significant Decline in Short Interest

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 176,962 shares, a drop of 23.1% from the December 15th total of 230,103 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 75,575 shares, the days-to-cover ratio is presently 2.3 days. Based on an average trading volume of 75,575 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EDN. Ping Capital Management Inc. lifted its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the second quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock valued at $726,000 after acquiring an additional 2,000 shares during the last quarter. Tidal Investments LLC increased its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 4,152 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at $320,000. Jane Street Group LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth $455,000. Finally, BNP Paribas Financial Markets grew its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after buying an additional 239,379 shares during the last quarter. Hedge funds and other institutional investors own 1.64% of the company’s stock.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Up 2.9%

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock traded up $0.77 during mid-day trading on Monday, reaching $27.10. 75,850 shares of the company were exchanged, compared to its average volume of 64,329. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.04. The firm has a market cap of $1.23 billion, a P/E ratio of 6.48 and a beta of 1.79. The business has a fifty day moving average of $31.02 and a 200 day moving average of $25.99. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12-month low of $14.38 and a 12-month high of $40.64.

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 EPS for the quarter. The firm had revenue of $536.96 million during 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%. Research 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.