Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Down 6% – Should You Sell?

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) was down 6% during mid-day trading on Tuesday . The stock traded as low as $31.26 and last traded at $31.26. Approximately 30,125 shares traded hands during trading, a decline of 78% from the average daily volume of 138,526 shares. The stock had previously closed at $33.27.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

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 company has a 50-day moving average price of $36.16 and a 200-day moving average price of $33.68. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 6.18 and a beta of 1.38.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Voloridge Investment Management LLC acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter worth approximately $258,000. Two Sigma Investments LP acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter worth approximately $386,000. Tidal Investments LLC acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter worth approximately $519,000. Millennium Management LLC boosted its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 177.7% during the fourth quarter. Millennium Management LLC now owns 102,615 shares of the utilities provider’s stock worth $4,403,000 after buying an additional 65,666 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 111.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 544,388 shares of the utilities provider’s stock worth $23,360,000 after purchasing an additional 286,989 shares during the period. 1.64% of the stock is currently owned by institutional investors and hedge funds.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Company Profile

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.