Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sees Large Volume Increase – Here’s Why

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) saw unusually-strong trading volume on Tuesday. 176,413 shares were traded during trading, an increase of 45% from the previous session’s volume of 121,820 shares. The stock last traded at $20.7040 and had previously closed at $20.47.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has an average rating of “Reduce”.

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

The company has a 50-day moving average price of $22.99 and a two-hundred day moving average price of $25.14. The company has a quick ratio of 1.28, a current ratio of 1.46 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $929.70 million, a P/E ratio of 4.90 and a beta of 1.35.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last posted its earnings results on Tuesday, August 11th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of ($0.17) by $0.81. The business had revenue of $618.97 million during the quarter, compared to analysts’ expectations of $217.79 million. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 10.31% and a net margin of 7.46%. Equities analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock. Militia Capital Management LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,902 shares of the utilities provider’s stock, valued at approximately $447,000. Institutional investors own 1.64% of the company’s stock.

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

Empresa Distribuidora y Comercializadora Norte SA, commonly known as Edenor, is an Argentine electric utility that distributes electricity to residential, commercial and industrial customers. The company operates the distribution network serving the northern and northwestern areas of the Buenos Aires metropolitan region, including parts of the City of Buenos Aires and surrounding municipalities in Buenos Aires Province.

Edenor’s activities include receiving electricity from the transmission system, delivering it through medium- and low-voltage networks, and providing related services such as customer connections, metering, billing, network maintenance and outage response.