Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.06 and traded as high as $27.25. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $26.4570, with a volume of 58,992 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on EDN. Zacks Research raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, June 24th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently 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 company has a debt-to-equity ratio of 0.31, a current ratio of 1.19 and a quick ratio of 1.00. The stock’s 50 day moving average price is $25.72 and its two-hundred day moving average price is $27.06. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 4.90 and a beta of 1.45.

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

Several hedge funds and other institutional investors have recently made changes to their positions in EDN. Militia Capital Management LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 1st quarter valued at approximately $447,000. Millennium Management LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at approximately $366,000. State of Wisconsin Investment Board bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter worth approximately $473,000. Van ECK Associates Corp increased its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the 4th quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider’s stock worth $31,000 after buying an additional 367 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider’s stock worth $47,000 after buying an additional 556 shares during the last quarter. 1.64% of the stock is owned by institutional investors and hedge funds.

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

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.