Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Reaches New 12-Month Low - Time to Sell?

Key Points

• Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares fell to a new 52-week low at $17.95, down from a previous close of $21.85.
• Wall Street analysts have downgraded Edenor's rating from "buy" to "hold," with an average price target of $36.00.
• Institutional investors have increased their holdings significantly, with Helikon Investments Ltd boosting its stake by 259.8% in the first quarter.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $18.80 and last traded at $17.95, with a volume of 8131 shares changing hands. The stock had previously closed at $21.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on EDN shares. Wall Street Zen downgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Morgan Stanley restated an "equal weight" rating and issued a $36.00 target price on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) currently has an average rating of "Hold" and an average price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 17.5%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.99. The stock has a market capitalization of $816.94 million, a PE ratio of 2.88 and a beta of 1.61. The stock has a 50-day moving average price of $25.72 and a two-hundred day moving average price of $29.68.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The utilities provider reported $1.85 earnings per share (EPS) 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%.The business had revenue of $543.69 million for the quarter. As a group, equities analysts forecast 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 large investors have recently modified their holdings of the business. Helikon Investments Ltd boosted its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 259.8% in the first quarter. Helikon Investments Ltd now owns 2,031,036 shares of the utilities provider's stock worth $62,028,000 after acquiring an additional 1,466,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 111.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 544,388 shares of the utilities provider's stock worth $23,360,000 after purchasing an additional 286,989 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider's stock worth $7,340,000 after acquiring an additional 239,379 shares in the last quarter. Millennium Management LLC boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 177.7% during the 4th quarter. Millennium Management LLC now owns 102,615 shares of the utilities provider's stock worth $4,403,000 after acquiring an additional 65,666 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 2,523.4% during the 1st quarter. GAMMA Investing LLC now owns 41,870 shares of the utilities provider's stock worth $1,371,000 after acquiring an additional 40,274 shares in the last quarter. Institutional investors own 1.64% of the company's stock.

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.

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