Short Interest in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Grows By 28.1%

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) saw a significant growth in short interest in the month of 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. Based on an average daily trading volume, of 118,100 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.4% of the company's shares are short sold. Currently, 0.4% of the company's shares are short sold. Based on an average daily trading volume, of 118,100 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EDN shares. Morgan Stanley reaffirmed 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. Wall Street Zen downgraded 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. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $36.00.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Preferred LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter worth approximately $103,000. Jane Street Group LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at $207,000. Voloridge Investment Management LLC bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at $258,000. Bank of America Corp DE lifted 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 valued at $321,000 after buying an additional 4,303 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at $386,000. Institutional investors own 1.64% of the company's stock.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 1.6%

NYSE:EDN traded down $0.24 on Friday, reaching $15.18. 208,431 shares of the stock traded hands, compared to its average volume of 170,357. The firm has a market capitalization of $687.96 million, a price-to-earnings ratio of 2.42 and a beta of 1.60. Empresa Distribuidora Y Comercializadora Norte S.A. has a 1-year low of $14.89 and a 1-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 company's 50 day moving average is $23.88 and its 200-day moving average is $28.49.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The utilities provider reported $1.85 EPS for the quarter. The company 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%. Equities research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

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.