Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN) Stock Price Up 5.6% - Still a Buy?

Key Points

• Edenor's stock rose 5.6% to $28.15, down from a previous close of $26.65, despite a significant drop in trading volume.
• Wall Street Zen upgraded Edenor from a "hold" to a "buy" rating, indicating positive sentiment towards the company's future performance.
• The company's latest earnings report showed an EPS of $0.78 and a revenue of $605.33 million, with analysts predicting an EPS of 1.38 for the current fiscal year.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) shares shot up 5.6% on Monday . The company traded as high as $28.03 and last traded at $28.15. 85,761 shares changed hands during trading, a decline of 44% from the average session volume of 152,975 shares. The stock had previously closed at $26.65.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) from a "hold" rating to a "buy" rating in a research report on Friday, May 23rd.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) Trading Down 1.8%

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 4.97 and a beta of 1.44. The business's 50-day simple moving average is $28.53 and its two-hundred day simple moving average is $31.99. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 0.22.

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) (NYSE:EDN - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.78 earnings per share for the quarter. Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) had a net margin of 10.61% and a return on equity of 18.30%. The business had revenue of $605.33 million during the quarter. Equities analysts forecast that Empresa Distribuidora Y Comercializadora Norte S.A. will post 1.38 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 2,523.4% in the first quarter. GAMMA Investing LLC now owns 41,870 shares of the utilities provider's stock valued at $1,371,000 after purchasing an additional 40,274 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 4.3% in the fourth quarter. Citadel Advisors LLC now owns 53,182 shares of the utilities provider's stock valued at $2,282,000 after purchasing an additional 2,206 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) by 1.7% in the fourth quarter. BNP Paribas Financial Markets now owns 41,796 shares of the utilities provider's stock valued at $1,793,000 after purchasing an additional 691 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at approximately $519,000. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) in the fourth quarter valued at approximately $6,272,000. Institutional investors and hedge funds own 1.64% of the company's stock.

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.