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

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

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

Shares of NYSE:EDN opened at $27.80 on Wednesday. The firm has a 50 day moving average of $29.67 and a 200 day moving average of $26.46. The company has a quick ratio of 0.86, a current ratio of 1.04 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 6.65 and a beta of 1.75. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $14.38 and a 52 week high of $40.26.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last announced its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of $536.96 million for 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%. On average, sell-side analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several hedge funds have recently modified their holdings of EDN. Ping Capital Management Inc. raised its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% during the 3rd quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock worth $784,000 after acquiring an additional 23,000 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider’s stock worth $2,409,000 after purchasing an additional 27,486 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock worth $7,340,000 after purchasing an additional 239,379 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter valued at $473,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 556 shares during the last quarter. 1.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.