Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Trading Up 5% – Time to Buy?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) were up 5% during mid-day trading on Tuesday . The company traded as high as $32.84 and last traded at $32.84. Approximately 86,963 shares traded hands during trading, a decline of 3% from the average daily volume of 89,977 shares. The stock had previously closed at $31.27.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Up 3.9 %

The company has a current ratio of 0.76, a quick ratio of 0.63 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $25.48 and a 200 day simple moving average of $20.08. The company has a market cap of $1.58 billion, a P/E ratio of 4.32 and a beta of 1.36.

Hedge Funds Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of institutional investors have recently modified their holdings of the stock. Helikon Investments Ltd lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 61.3% in the third quarter. Helikon Investments Ltd now owns 809,902 shares of the utilities provider’s stock worth $17,947,000 after acquiring an additional 307,642 shares during the period. Ping Capital Management Inc. purchased a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth $941,000. BlueCrest Capital Management Ltd grew its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% in the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 20,000 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% in the third quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock worth $911,000 after purchasing an additional 40,173 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter valued at about $237,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

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.