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

Key Points

• Short interest rose 20.5% in March to 329,607 shares as of March 31, a short-interest ratio of 1.9 days and roughly 0.7% of the company's stock shorted.
• Shares traded at $27.10 (down $0.54) with a $1.23B market cap and a PE of 6.33; the company reported $0.80 EPS and $525.2M revenue for the quarter, and analysts hold a consensus "Hold" with an average target of $36.00.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 329,607 shares, an increase of 20.5% from the March 15th total of 273,500 shares. Based on an average trading volume of 177,595 shares, the short-interest ratio is presently 1.9 days. Currently, 0.7% of the company's stock are short sold.

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

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) stock traded down $0.54 during trading hours on Friday, hitting $27.10. The stock had a trading volume of 144,212 shares, compared to its average volume of 166,398. The company has a 50-day moving average of $28.07 and a two-hundred day moving average of $28.15. The company has a quick ratio of 0.91, a current ratio of 1.07 and a debt-to-equity ratio of 0.32. Empresa Distribuidora Y Comercializadora Norte S.A. has a fifty-two week low of $14.38 and a fifty-two week high of $38.10. The company has a market cap of $1.23 billion, a PE ratio of 6.33 and a beta of 1.71.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last issued its earnings results on Sunday, February 15th. The utilities provider reported $0.80 EPS for the quarter. The business had revenue of $525.20 million during the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a return on equity of 11.40% and a net margin of 8.10%. On average, equities research analysts anticipate that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 EPS for the current fiscal year.

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

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 634.5% in the second quarter. BNP Paribas Financial Markets now owns 277,104 shares of the utilities provider's stock worth $7,340,000 after purchasing an additional 239,379 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 51.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 80,414 shares of the utilities provider's stock valued at $2,409,000 after purchasing an additional 27,486 shares in the last quarter. Ping Capital Management Inc. grew its stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.0% in the 4th quarter. Ping Capital Management Inc. now owns 52,400 shares of the utilities provider's stock valued at $1,570,000 after purchasing an additional 2,000 shares during the period. Tidal Investments LLC raised its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 28.9% in the 2nd quarter. Tidal Investments LLC now owns 18,496 shares of the utilities provider's stock worth $490,000 after buying an additional 4,152 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the 2nd quarter worth approximately $455,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on EDN shares. Weiss Ratings restated a "hold (c-)" rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Friday, March 27th. Wall Street Zen upgraded Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "sell" rating to a "hold" rating in a report on Sunday, March 22nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $36.00.

About Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor)

Empresa Distribuidora y Comercializadora Norte SA (Edenor) is Argentina's largest electricity distribution company by customer base and network extension. Established in 1992 as part of the country's energy sector privatization, Edenor holds the exclusive concession to distribute and sell electricity in the northern and northwestern areas of Greater Buenos Aires. The company's shares are listed on the New York Stock Exchange under the ticker symbol EDN, reflecting its role as a key participant in Argentina's regulated power market.

Edenor's primary business activity is the purchase of high-voltage electricity from generators and its subsequent transformation, distribution and retail sale to end users.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.