Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Short Interest Update

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) saw a large growth in short interest in March. As of March 31st, there was short interest totaling 329,607 shares, a growth of 20.5% from the March 15th total of 273,500 shares. Based on an average daily volume of 177,595 shares, the short-interest ratio is presently 1.9 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EDN. Jump Financial LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth $320,000. Jane Street Group LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the second quarter valued at approximately $455,000. BNP Paribas Financial Markets boosted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider’s stock valued at $7,340,000 after buying an additional 239,379 shares during the last quarter. Tidal Investments LLC raised its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the second quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 4,152 shares in the last quarter. Finally, Ping Capital Management Inc. lifted its stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 83.9% in the third quarter. Ping Capital Management Inc. now owns 50,400 shares of the utilities provider’s stock valued at $784,000 after acquiring an additional 23,000 shares during the last quarter. 1.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EDN has been the subject of several recent analyst reports. Wall Street Zen raised shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings restated a “hold (c-)” rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Friday, March 27th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 2.0%

EDN traded down $0.54 during trading on Friday, reaching $27.10. 144,212 shares of the company’s stock were exchanged, compared to its average volume of 166,398. Empresa Distribuidora Y Comercializadora Norte S.A. has a fifty-two week low of $14.38 and a fifty-two week high of $38.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 1.07. The firm has a market capitalization of $1.23 billion, a PE ratio of 6.33 and a beta of 1.71. The company’s fifty day moving average price is $28.07 and its 200-day moving average price is $28.15.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) last released its quarterly earnings data on Sunday, February 15th. The utilities provider reported $0.80 EPS for the quarter. The business had revenue of $525.20 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 11.40% and a net margin of 8.10%. As a group, equities analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current year.

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

Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina’s largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country’s energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company’s shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina’s regulated power market.

Edenor’s primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.