Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading Up 7.4% – What’s Next?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares shot up 7.4% during trading on Wednesday . The company traded as high as $32.59 and last traded at $33.0280. 26,967 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 172,610 shares. The stock had previously closed at $30.74.

Analysts Set New Price Targets

EDN has been the topic of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Monday. Morgan Stanley reissued an “equal weight” rating and set a $36.00 price target on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, August 20th. Finally, Wall Street Zen cut shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 8.4%

The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 5.33 and a beta of 1.64. The business’s fifty day simple moving average is $23.63 and its 200 day simple moving average is $26.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.99 and a quick ratio of 0.82.

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

Several institutional investors have recently made changes to their positions in EDN. Helikon Investments Ltd lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% in the 1st quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider’s stock worth $62,028,000 after purchasing an additional 1,466,500 shares during the last quarter. Walleye Capital LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the first quarter worth $373,000. Cubist Systematic Strategies LLC lifted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 141.2% in the first quarter. Cubist Systematic Strategies LLC now owns 39,031 shares of the utilities provider’s stock valued at $1,192,000 after buying an additional 22,848 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter valued at $562,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 9.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 596,866 shares of the utilities provider’s stock worth $18,228,000 after acquiring an additional 52,478 shares during the last quarter. 1.64% of the stock is owned by institutional investors.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is involved in the distribution and sale of electricity in Argentina. The company was incorporated in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima operates as a subsidiary of Empresa de Energía del Cono Sur SA.