Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Down 4.7% – Here’s What Happened

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price dropped 4.7% during mid-day trading on Tuesday . The stock traded as low as $46.32 and last traded at $46.88. 207,652 shares were traded during trading, an increase of 102% from the average daily volume of 102,605 shares. The stock had previously closed at $49.18.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price Performance

The company has a fifty day moving average of $34.41 and a 200 day moving average of $24.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69. The firm has a market capitalization of $1.93 billion, a P/E ratio of 8.26 and a beta of 1.45.

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

Several large investors have recently added to or reduced their stakes in EDN. Walleye Capital LLC bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter worth $237,000. Quadrature Capital Ltd bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter worth about $260,000. BlueCrest Capital Management Ltd raised its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% in the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 20,000 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock valued at $911,000 after acquiring an additional 40,173 shares during the last quarter. Finally, Ping Capital Management Inc. bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter valued at approximately $941,000. Institutional investors own 1.64% of the company’s stock.

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.