Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Up 5.4% – Here’s Why

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price shot up 5.4% during trading on Thursday . The company traded as high as $45.15 and last traded at $45.15. 37,977 shares were traded during trading, a decline of 63% from the average session volume of 103,871 shares. The stock had previously closed at $42.85.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.69 and a current ratio of 0.82. The firm has a market capitalization of $1.96 billion, a P/E ratio of 8.41 and a beta of 1.45. The firm has a 50 day moving average price of $34.41 and a two-hundred day moving average price of $24.01.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Hedge funds and other institutional investors have recently modified their holdings of the stock. Walleye Capital LLC purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter valued at about $237,000. Quadrature Capital Ltd purchased a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter valued at approximately $260,000. BNP Paribas Financial Markets boosted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock worth $911,000 after purchasing an additional 40,173 shares during the period. Ping Capital Management Inc. purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth approximately $941,000. Finally, BlueCrest Capital Management Ltd raised its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% during the 3rd quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds own 1.64% of the company’s stock.

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.