Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Edenor shares briefly moved above their 200-day moving average during Thursday trading, reaching as high as $27.25 before last trading around $26.46.
• Wall Street sentiment remains cautious, with the stock carrying a consensus Hold rating and an average price target of $36.00 after recent analyst updates.
• The company’s valuation and financial profile include a $1.20 billion market cap, a P/E ratio of 4.90, and institutional investors owning about 1.64% of the stock.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $27.06 and traded as high as $27.25. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) shares last traded at $26.4570, with a volume of 58,992 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EDN. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in a report on Wednesday, June 24th. Zacks Research upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) to a "hold" rating in a research report on Thursday, May 14th. Three analysts have rated the stock with a Hold rating, Based on 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.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Stock Down 3.0%

The company has a quick ratio of 1.00, a current ratio of 1.19 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.20 billion, a PE ratio of 4.90 and a beta of 1.45. The business's 50 day simple moving average is $25.72 and its 200 day simple moving average is $27.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EDN. Van ECK Associates Corp increased its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 54.8% in the 4th quarter. Van ECK Associates Corp now owns 1,037 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 367 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 55.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,556 shares of the utilities provider's stock worth $47,000 after purchasing an additional 556 shares during the period. Jump Financial LLC acquired a new stake in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the second quarter worth approximately $320,000. Millennium Management LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the fourth quarter valued at approximately $366,000. Finally, Militia Capital Management LLC purchased a new position in Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) during the first quarter valued at approximately $447,000. Hedge funds and other institutional investors own 1.64% of the company's stock.

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.

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