Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Down 7.3%

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN - Get Free Report)'s stock price dropped 7.3% during mid-day trading on Monday . The stock traded as low as $16.24 and last traded at $16.24. Approximately 59,685 shares changed hands during trading, a decline of 23% from the average daily volume of 77,751 shares. The stock had previously closed at $17.51.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a "buy" rating to a "hold" rating in a research report on Monday, March 18th.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Down 6.9 %

The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 0.10. The company has a market cap of $738.72 million, a PE ratio of 4.34 and a beta of 1.43. The stock has a 50-day moving average of $17.66 and a 200-day moving average of $16.30.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN - Get Free Report) last issued its quarterly earnings data on Monday, March 11th. The utilities provider reported ($0.25) earnings per share (EPS) for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a return on equity of 15.78% and a net margin of 8.22%. The business had revenue of $785.09 million during the quarter. Sell-side analysts predict that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of large investors have recently added to or reduced their stakes in EDN. Helikon Investments Ltd raised its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 133.1% during the third quarter. Helikon Investments Ltd now owns 271,739 shares of the utilities provider's stock valued at $3,261,000 after purchasing an additional 155,145 shares in the last quarter. Citigroup Inc. purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter valued at about $1,179,000. Renaissance Technologies LLC purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter valued at about $432,000. Mirae Asset Global Investments Co. Ltd. raised its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,039 shares of the utilities provider's stock valued at $2,093,000 after purchasing an additional 33,510 shares in the last quarter. Finally, Autonomy Capital Jersey L.P. purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter valued at about $78,000. Hedge funds and other institutional investors own 1.64% of the company's stock.

About Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

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.