Short Interest in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Increases By 52.3%

Key Points

• Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) saw a 52.3% increase in short interest in July, with a total of 146,100 shares sold short as of July 31st.
• Shares of Edenor decreased by 7.2%, trading at $26.00 with a market capitalization of $1.18 billion and a price-to-earnings ratio of 4.15.
• Analysts downgraded Edenor from a "buy" rating to a "hold" rating, indicating a reassessment of the stock's performance outlook.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 146,100 shares, agrowthof52.3% from the July 15th total of 95,900 shares. Currently,0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 109,100 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 109,100 shares, the days-to-cover ratio is presently 1.3 days. Currently,0.3% of the shares of the stock are sold short.

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

Shares of EDN traded down $0.7950 during mid-day trading on Friday, hitting $23.5550. 117,267 shares of the company traded hands, compared to its average volume of 123,430. Empresa Distribuidora Y Comercializadora Norte S.A. has a one year low of $17.36 and a one year high of $51.69. The company has a current ratio of 0.99, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $26.97 and a 200 day moving average of $30.89. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 3.76 and a beta of 1.49.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The utilities provider reported $1.85 EPS for 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%. The business had revenue of $543.69 million for the quarter. As a group, equities analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EDN. Wall Street Zen cut shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "buy" rating to a "hold" rating in a research note on Saturday, August 16th. Morgan Stanley reaffirmed an "equal weight" rating and set a $36.00 price objective on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $36.00.

Hedge Funds Weigh In On Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 1.7% during the 4th quarter. BNP Paribas Financial Markets now owns 41,796 shares of the utilities provider's stock worth $1,793,000 after acquiring an additional 691 shares during the period. Ping Capital Management Inc. grew its holdings 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 worth $726,000 after acquiring an additional 2,000 shares during the period. Citadel Advisors LLC grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.3% during the 4th quarter. Citadel Advisors LLC now owns 53,182 shares of the utilities provider's stock worth $2,282,000 after acquiring an additional 2,206 shares during the period. Advisors Preferred LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 1st quarter worth $103,000. Finally, Tidal Investments LLC grew its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% during the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider's stock worth $490,000 after acquiring an additional 4,152 shares during the period. 1.64% of the stock is owned by institutional investors.

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.