Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Down 5.8% – Here’s Why

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s share price traded down 5.8% during mid-day trading on Tuesday . The company traded as low as $37.72 and last traded at $37.21. 5,913 shares changed hands during trading, a decline of 98% from the average session volume of 305,000 shares. The stock had previously closed at $39.52.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Down 5.5 %

The company has a current ratio of 0.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average is $41.08 and its 200-day moving average is $30.30. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 7.25 and a beta of 1.39.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Helikon Investments Ltd raised its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 61.3% in the 3rd quarter. Helikon Investments Ltd now owns 809,902 shares of the utilities provider’s stock valued at $17,947,000 after buying an additional 307,642 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the fourth quarter valued at about $5,012,000. JPMorgan Chase & Co. raised its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 79,299 shares of the utilities provider’s stock valued at $1,757,000 after purchasing an additional 2,610 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter valued at about $2,938,000. Finally, BlueCrest Capital Management Ltd boosted its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% during the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 20,000 shares during the last quarter. 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.