Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Significant Growth in Short Interest

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDNGet Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 54,800 shares, an increase of 110.8% from the March 15th total of 26,000 shares. Based on an average trading volume of 76,700 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. UBS Group AG purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter valued at approximately $26,000. Autonomy Capital Jersey L.P. bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth $78,000. Renaissance Technologies LLC bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter worth $432,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 14.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,529 shares of the utilities provider’s stock valued at $894,000 after acquiring an additional 9,263 shares in the last quarter. Finally, Citigroup Inc. bought a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter valued at $1,179,000. Institutional investors own 1.64% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a research report on Monday, March 18th.

View Our Latest Research Report on EDN

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Down 5.0 %

NYSE:EDN opened at $17.51 on Friday. The business has a fifty day moving average price of $17.70 and a 200-day moving average price of $16.22. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a one year low of $8.27 and a one year high of $21.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $793.55 million, a price-to-earnings ratio of 4.66 and a beta of 1.43.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDNGet Free Report) last released its earnings results on Monday, March 11th. The utilities provider reported ($0.25) EPS for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 15.78% and a net margin of 8.22%. The firm had revenue of $785.09 million for the quarter. Sell-side analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 EPS for the current year.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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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.

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