Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Trading Down 3.9% - Time to Sell?

Key Points

• Edenor's stock price dropped by 3.9% during Thursday's trading, with the stock closing at $15.88, down from a previous close of $16.53.
• Wall Street analysts have downgraded Edenor's rating from "buy" to "hold," and the consensus price target is set at $36.00.
• Institutional investors have shown significant activity, with BNP Paribas increasing its position by 634.5% during the second quarter.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) shares dropped 3.9% on Thursday . The stock traded as low as $15.90 and last traded at $15.88. Approximately 61,232 shares changed hands during trading, a decline of 60% from the average daily volume of 151,386 shares. The stock had previously closed at $16.53.

Analyst Ratings Changes

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

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

The business has a 50-day moving average of $23.88 and a 200 day moving average of $28.40. The firm has a market capitalization of $832.53 million, a P/E ratio of 2.93 and a beta of 1.61. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

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 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 firm had revenue of $543.69 million during the quarter. On average, sell-side analysts predict that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EDN. Advisors Preferred LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter worth about $103,000. Jane Street Group LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth approximately $207,000. Voloridge Investment Management LLC bought a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth approximately $258,000. Bank of America Corp DE raised its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 135.4% in the fourth quarter. Bank of America Corp DE now owns 7,481 shares of the utilities provider's stock worth $321,000 after purchasing an additional 4,303 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter worth approximately $386,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Company Profile

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.