Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Gap Up – Still a Buy?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) gapped up before the market opened on Wednesday . The stock had previously closed at $30.56, but opened at $31.52. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $31.04, with a volume of 452 shares trading hands.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69. The firm has a fifty day simple moving average of $36.06 and a 200 day simple moving average of $33.66. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 6.24 and a beta of 1.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 73.7% during the fourth quarter. GAMMA Investing LLC now owns 1,596 shares of the utilities provider’s stock valued at $68,000 after acquiring an additional 677 shares during the period. SG Americas Securities LLC bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the fourth quarter valued at about $101,000. Jane Street Group LLC bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth about $207,000. Walleye Capital LLC bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 3rd quarter worth about $237,000. Finally, NewEdge Advisors LLC bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 4th quarter worth about $257,000. 1.64% of the stock is owned by institutional investors.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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.