Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Shares Up 9.2% - Here's Why

Shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) were up 9.2% on Tuesday . The stock traded as high as $27.36 and last traded at $27.32. Approximately 89,733 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 145,864 shares. The stock had previously closed at $25.01.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "hold" rating to a "buy" rating in a research report on Friday, May 23rd.

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

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 4.42 and a beta of 1.44. The firm has a 50-day simple moving average of $30.75 and a two-hundred day simple moving average of $33.66. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 0.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.78 EPS for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 10.61% and a return on equity of 18.30%. The firm had revenue of $605.33 million for the quarter. As a group, sell-side analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter valued at approximately $103,000. Jane Street Group LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth $207,000. NewEdge Advisors LLC acquired a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter valued at $257,000. Voloridge Investment Management LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter worth $258,000. Finally, Jump Financial LLC bought a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 4th quarter worth $275,000. 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.