Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Strong Trading Volume – Time to Buy?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) saw an uptick in trading volume on Wednesday . 140,344 shares were traded during mid-day trading, an increase of 82% from the previous session’s volume of 77,228 shares.The stock last traded at $22.10 and had previously closed at $21.68.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Down 1.4 %

The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $20.53 and its two-hundred day simple moving average is $18.34. The stock has a market capitalization of $1.06 billion, a P/E ratio of 2.90 and a beta of 1.39.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $1.51. The firm had revenue of $551.43 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 17.06% and a return on equity of 31.06%. During the same period in the prior year, the company earned ($0.48) EPS. As a group, analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post 0.05 earnings per share for the current year.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Several hedge funds have recently bought and sold shares of EDN. BNP Paribas Financial Markets raised its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the first quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 2,976 shares during the last quarter. Ping Capital Management Inc. acquired a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter worth $941,000. Finally, Helikon Investments Ltd increased its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 15.3% during the first quarter. Helikon Investments Ltd now owns 345,218 shares of the utilities provider’s stock worth $6,107,000 after buying an additional 45,901 shares during the last quarter. 1.64% of the stock is currently owned by institutional investors and hedge funds.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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.