Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $25.93 and traded as high as $29.80. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $27.9620, with a volume of 103,294 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated 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, According to data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) has an average rating of “Hold” and an average target price of $36.00.

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

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 6.69 and a beta of 1.79. 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’s fifty day moving average is $31.87 and its two-hundred day moving average is $25.93.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last issued its earnings results on Friday, November 7th. The utilities provider reported $0.67 EPS for the quarter. The company had revenue of $536.96 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 7.82% and a return on equity of 11.33%. Equities research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ping Capital Management Inc. boosted its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the second quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider’s stock worth $726,000 after buying an additional 2,000 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after acquiring an additional 4,152 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after acquiring an additional 239,379 shares during the period. Jane Street Group LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $455,000. Finally, Jump Financial LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $320,000. Institutional investors own 1.64% of the company’s stock.

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.