Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Sees Strong Trading Volume - Time to Buy?

Key Points

• Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) experienced a significant increase in trading volume, with 545,368 shares traded, marking a 244% rise from the previous session.
• Despite recent increased activity, the company received a reaffirmed "sell" rating from Weiss Ratings and a lowered rating from Wall Street Zen, indicating caution amongst analysts.
• Edenor's stock currently has a market capitalization of $907.31 million, with a notable P/E ratio of 3.20 and average price target of $36.00, despite having an average consensus rating of "Reduce."

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 545,368 shares changed hands during mid-day trading, an increase of 244% from the previous session's volume of 158,636 shares.The stock last traded at $20.21 and had previously closed at $16.62.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, 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 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, the company presently has a consensus rating of "Reduce" and an average price target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Price Performance

The company's 50 day simple moving average is $21.00 and its two-hundred day simple moving average is $26.71. The stock has a market capitalization of $907.31 million, a P/E ratio of 3.20 and a beta of 1.53. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.99 and a quick ratio of 0.82.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last issued its earnings results on Monday, August 11th. The utilities provider reported $1.85 EPS for the quarter. The firm had revenue of $543.69 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 11.55% and a return on equity of 18.04%. As a group, equities analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EDN. Tidal Investments LLC boosted 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 purchasing an additional 4,152 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider's stock worth $7,340,000 after buying an additional 239,379 shares during the period. Jane Street Group LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter valued at $455,000. Jump Financial LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth about $320,000. Finally, Ping Capital Management Inc. grew its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 7.9% during the 2nd quarter. Ping Capital Management Inc. now owns 27,400 shares of the utilities provider's stock valued at $726,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds 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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