Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $26.04 and traded as high as $31.74. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $30.1850, with a volume of 60,075 shares changing hands.

Wall Street Analyst Weigh In

EDN has been the subject of several recent research reports. Weiss Ratings raised Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, August 20th. Finally, Wall Street Zen downgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.00.

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

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.04. The company has a market cap of $1.37 billion, a P/E ratio of 7.22 and a beta of 1.81. The firm’s fifty day moving average is $27.99 and its two-hundred day moving average is $26.04.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ping Capital Management Inc. grew its holdings in 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 valued at $784,000 after buying an additional 23,000 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after buying an additional 4,152 shares in the last quarter. BNP Paribas Financial Markets boosted 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 acquiring an additional 239,379 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth $455,000. Finally, Jump Financial LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter valued at $320,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

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