Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Shares Pass Above 200-Day Moving Average – Here’s Why

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.18 and traded as high as $33.29. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $31.5540, with a volume of 155,291 shares changing hands.

Analyst Ratings Changes

A number of analysts recently commented on EDN shares. Wall Street Zen cut shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Morgan Stanley reiterated 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 note on Wednesday, August 20th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) has a consensus rating of “Reduce” and a consensus target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 2.7%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.99. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 5.04 and a beta of 1.64. The company’s fifty day moving average is $22.82 and its two-hundred day moving average is $26.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Preferred LLC purchased a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the first quarter valued at $103,000. Helikon Investments Ltd lifted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% in the 1st quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider’s stock valued at $62,028,000 after buying an additional 1,466,500 shares during the period. Walleye Capital LLC purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the first quarter worth about $373,000. Cubist Systematic Strategies LLC boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 141.2% in the first quarter. Cubist Systematic Strategies LLC now owns 39,031 shares of the utilities provider’s stock worth $1,192,000 after buying an additional 22,848 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter worth about $562,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

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

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.