Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Short Interest Update

Key Points

• Edenor experienced a 28.1% increase in short interest in August, with 173,100 shares sold short, reflecting a days-to-cover ratio of 1.5 days.
• Research analysts have set a consensus price target of $36.00 for Edenor, with recent reports downgrading the stock's rating from "buy" to "hold."
• The company's latest quarterly results showed an EPS of $1.85, and revenue of $543.69 million, contributing to a net margin of 11.55% and a return on equity of 18.04%.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 173,100 shares, a growth of 28.1% from the August 15th total of 135,100 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 118,100 shares, the short-interest ratio is currently 1.5 days. Based on an average trading volume of 118,100 shares, the short-interest ratio is currently 1.5 days. Currently, 0.4% of the shares of the stock are short sold.

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

NYSE EDN traded down $0.24 during trading hours on Friday, hitting $15.18. The company had a trading volume of 208,431 shares, compared to its average volume of 170,357. Empresa Distribuidora Y Comercializadora Norte S.A. has a 52 week low of $14.89 and a 52 week high of $51.69. 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 firm has a market capitalization of $688.00 million, a price-to-earnings ratio of 2.42 and a beta of 1.60. The firm has a 50 day simple moving average of $23.88 and a 200 day simple moving average of $28.44.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The utilities provider reported $1.85 earnings per share 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 company had revenue of $543.69 million during the quarter. Equities research analysts expect that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

Institutional Trading of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Preferred LLC acquired a new stake in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 1st quarter worth about $103,000. Jane Street Group LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter worth $207,000. Voloridge Investment Management LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 4th quarter worth about $258,000. Jump Financial LLC bought a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the 2nd quarter worth $320,000. Finally, Bank of America Corp DE raised its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 135.4% during the 4th 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. Institutional investors and hedge funds own 1.64% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded 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 reiterated 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 report on Wednesday, August 20th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) presently has a consensus rating of "Hold" and an average price target of $36.00.

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.