Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Gap Up – Time to Buy?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $30.56, but opened at $31.52. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $31.04, with a volume of 452 shares traded.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.69 and a current ratio of 0.82. The company has a 50-day moving average price of $36.06 and a 200-day moving average price of $33.66. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 6.24 and a beta of 1.38.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Several institutional investors and hedge funds have recently modified their holdings of EDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 111.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 544,388 shares of the utilities provider’s stock valued at $23,360,000 after purchasing an additional 286,989 shares during the period. Brevan Howard Capital Management LP acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter valued at approximately $6,272,000. William Blair Investment Management LLC acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter valued at approximately $5,012,000. Mirabella Financial Services LLP acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter valued at approximately $3,152,000. Finally, SPX Gestao de Recursos Ltda acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 4th quarter valued at approximately $2,938,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

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.