Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.06 and traded as high as $27.25. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $26.4570, with a volume of 58,992 shares.

Wall Street Analyst Weigh In

Several research analysts have commented on EDN shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, June 24th. Zacks Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) has an average rating of “Hold” and an average target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 3.0%

The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 4.78 and a beta of 1.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.00 and a current ratio of 1.19. The company has a 50-day moving average price of $25.79 and a 200-day moving average price of $27.05.

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

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in shares of 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. Goldman Sachs Group Inc. grew its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock valued at $2,409,000 after buying an additional 27,486 shares during the last quarter. Jane Street Group LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth $455,000. State of Wisconsin Investment Board acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth $473,000. Finally, Militia Capital Management LLC purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the first quarter valued at $447,000. 1.64% of the stock is currently 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.