Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Down 3.9% – Time to Sell?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN)’s stock price was down 3.9% during trading on Wednesday . The company traded as low as $35.34 and last traded at $35.34. Approximately 22,512 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 91,549 shares. The stock had previously closed at $36.77.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The firm’s 50 day moving average is $26.34 and its 200 day moving average is $20.51. 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 stock has a market cap of $1.66 billion, a P/E ratio of 7.18 and a beta of 1.36.

Institutional Trading of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

Institutional investors and hedge funds have recently made changes to their positions in the business. Helikon Investments Ltd boosted its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 61.3% during 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 last quarter. Ping Capital Management Inc. purchased a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 2nd quarter worth about $941,000. BNP Paribas Financial Markets grew its position in shares of 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 during the last quarter. BlueCrest Capital Management Ltd increased its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% during the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 3rd quarter valued at about $260,000. 1.64% of the stock is currently 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.