Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Shares Gap Up – Should You Buy?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) gapped up before the market opened on Wednesday . The stock had previously closed at $30.56, but opened at $31.52. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima shares last traded at $31.04, with a volume of 452 shares traded.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The firm’s 50 day moving average price is $36.26 and its 200-day moving average price is $33.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.69 and a current ratio of 0.82. The firm has a market capitalization of $1.41 billion, a PE ratio of 6.06 and a beta of 1.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EDN. BNP Paribas Financial Markets lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock valued at $911,000 after buying an additional 40,173 shares in the last quarter. Walleye Capital LLC purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter valued at about $237,000. BlueCrest Capital Management Ltd lifted its stake in 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 buying an additional 20,000 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter valued at about $260,000. Finally, JPMorgan Chase & Co. lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 79,299 shares of the utilities provider’s stock valued at $1,757,000 after buying an additional 2,610 shares in the last quarter. 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.