Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Large Volume Increase – Here’s Why

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) shares saw unusually-high trading volume on Thursday . Approximately 116,292 shares traded hands during trading, an increase of 16% from the previous session’s volume of 100,031 shares.The stock last traded at $49.00 and had previously closed at $47.37.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Up 2.9 %

The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $32.97 and its 200 day simple moving average is $23.38. The stock has a market capitalization of $2.23 billion, a P/E ratio of 9.58 and a beta of 1.45.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Helikon Investments Ltd increased its holdings in shares of 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 valued at $17,947,000 after buying an additional 307,642 shares in the last quarter. Ping Capital Management Inc. acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 2nd quarter worth $941,000. Quadrature Capital Ltd acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth $260,000. BNP Paribas Financial Markets lifted its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% during the third quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock valued at $911,000 after purchasing an additional 40,173 shares during the last quarter. Finally, BlueCrest Capital Management Ltd boosted its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% in the 3rd 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 period. 1.64% of the stock is owned by institutional investors and hedge funds.

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.