Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Short Interest Down 23.1% in December

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 176,962 shares, a decline of 23.1% from the December 15th total of 230,103 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 75,575 shares, the short-interest ratio is presently 2.3 days. Based on an average daily trading volume, of 75,575 shares, the short-interest ratio is presently 2.3 days. Currently, 0.4% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.00.

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

A number of institutional investors have recently modified their holdings of EDN. Ping Capital Management Inc. boosted its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% in the third quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock worth $784,000 after acquiring an additional 23,000 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock valued at $490,000 after buying an additional 4,152 shares during the last quarter. BNP Paribas Financial Markets increased 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 in the last quarter. Jane Street Group LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth about $455,000. Finally, Jump Financial LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth about $320,000. 1.64% of the stock is owned by institutional investors.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Up 2.9%

Shares of NYSE:EDN traded up $0.77 during midday trading on Friday, hitting $27.10. 75,850 shares of the stock were exchanged, compared to its average volume of 64,145. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 6.48 and a beta of 1.79. The business’s 50-day moving average price is $31.15 and its 200 day moving average price is $25.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.86 and a current ratio of 1.04. Empresa Distribuidora Y Comercializadora Norte S.A. has a 12 month low of $14.38 and a 12 month high of $40.64.

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

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.