Short Interest in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Grows By 34.4%

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 90,600 shares, a growth of 34.4% from the August 15th total of 67,400 shares. Based on an average daily trading volume, of 57,400 shares, the days-to-cover ratio is currently 1.6 days.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Up 0.3 %

Shares of NYSE:EDN traded up $0.07 during trading on Monday, reaching $24.63. 59,532 shares of the company traded hands, compared to its average volume of 75,247. The firm has a fifty day simple moving average of $17.76 and a 200 day simple moving average of $17.43. The company has a quick ratio of 0.63, a current ratio of 0.76 and a debt-to-equity ratio of 0.09. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a 1-year low of $10.06 and a 1-year high of $25.52. The firm has a market cap of $1.12 billion, a P/E ratio of 3.88 and a beta of 1.40.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $1.51. The company had revenue of $551.43 million during the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 31.06% and a net margin of 17.06%. During the same period last year, the business earned ($0.48) earnings per share. Analysts anticipate that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -2.33 earnings per share for the current fiscal year.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 1,488.0% in the first quarter. BNP Paribas Financial Markets now owns 3,176 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 2,976 shares during the period. Helikon Investments Ltd raised its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 10.1% in the fourth quarter. Helikon Investments Ltd now owns 299,317 shares of the utilities provider’s stock valued at $5,798,000 after purchasing an additional 27,578 shares in the last quarter. Finally, Ping Capital Management Inc. bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the second quarter worth $941,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

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.