Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.05 and traded as high as $34.40. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $32.4750, with a volume of 93,730 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen lowered Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday, October 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 target price on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, August 20th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has a consensus rating of “Reduce” and a consensus price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 2.1%

The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 5.19 and a beta of 1.63. The firm has a 50 day moving average of $21.09 and a 200 day moving average of $26.05. The company has a quick ratio of 0.82, a current ratio of 0.99 and a debt-to-equity ratio of 0.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last posted its quarterly earnings results on Monday, August 11th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter. The firm had revenue of $543.69 million for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 18.04% and a net margin of 11.55%. As a group, sell-side analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Preferred LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 1st quarter worth about $103,000. Jump Financial LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth approximately $320,000. Walleye Capital LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the first quarter worth approximately $373,000. Jane Street Group LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at approximately $455,000. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter valued at approximately $562,000. 1.64% of the stock is owned by institutional investors.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

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.