Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Short Interest Update

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 742,228 shares, a growth 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 company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in 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 Friday, March 27th. Wall Street Zen upgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, Zacks Research upgraded 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, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.00.

Institutional Inflows and Outflows

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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 2.2%

NYSE:EDN opened at $28.24 on Tuesday. The business’s 50-day moving average is $26.77 and its two-hundred day moving average is $28.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.19 and a quick ratio of 1.00. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12 month low of $14.38 and a 12 month high of $36.70. The firm has a market capitalization of $1.28 billion, a PE ratio of 5.23 and a beta of 1.44.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its quarterly earnings data on Sunday, February 15th. The utilities provider reported $0.80 EPS for 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%.The company had revenue of $525.20 million for the quarter. Research analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.25 earnings per share for the current fiscal 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.