Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Up 7.6% – Here’s Why

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) were up 7.6% during mid-day trading on Thursday . The company traded as high as $46.52 and last traded at $46.17. Approximately 220,486 shares were traded during trading, an increase of 108% from the average daily volume of 105,875 shares. The stock had previously closed at $42.91.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Price 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 company’s 50 day moving average price is $38.52 and its 200 day moving average price is $25.92. The firm has a market capitalization of $2.11 billion, a P/E ratio of 9.08 and a beta of 1.45.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter valued at about $237,000. Quadrature Capital Ltd bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the third quarter valued at approximately $260,000. BNP Paribas Financial Markets grew its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock worth $911,000 after acquiring an additional 40,173 shares during the period. Ping Capital Management Inc. bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter valued at $941,000. Finally, BlueCrest Capital Management Ltd lifted its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% in 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. 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.