Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Up 7.6% – Here’s What Happened

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) was up 7.6% during mid-day trading on Thursday . The stock traded as high as $46.52 and last traded at $46.17. Approximately 220,486 shares were traded during mid-day 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 market capitalization of $2.02 billion, a P/E ratio of 8.69 and a beta of 1.42. The business’s 50-day moving average is $39.31 and its two-hundred day moving average is $26.26. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.15.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 73.7% in the 4th quarter. GAMMA Investing LLC now owns 1,596 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 677 shares during the period. Walleye Capital LLC purchased a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter worth about $237,000. Quadrature Capital Ltd bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter valued at about $260,000. BNP Paribas Financial Markets increased its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% during the third quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock worth $911,000 after buying an additional 40,173 shares during the last quarter. Finally, Ping Capital Management Inc. purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the second quarter worth about $941,000. 1.64% of the stock is owned by hedge funds and other 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.