Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Large Drop in Short Interest

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) was the recipient of a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 212,000 shares, a decrease of 33.6% from the February 13th total of 319,100 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 241,300 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Empresa Distribuidora y Comercializadora Norte Sociedad Anónima

A number of hedge funds and other institutional investors have recently modified their holdings of EDN. Voloridge Investment Management LLC bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the fourth quarter worth about $258,000. Two Sigma Investments LP bought 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 stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the fourth quarter valued at approximately $519,000. Millennium Management LLC raised its position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 177.7% in the fourth quarter. Millennium Management LLC now owns 102,615 shares of the utilities provider’s stock valued at $4,403,000 after buying an additional 65,666 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $23,360,000 after buying an additional 286,989 shares during the period. Institutional investors and hedge funds own 1.64% of the company’s stock.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

EDN stock traded up $1.27 during mid-day trading on Friday, hitting $33.09. 96,381 shares of the company were exchanged, compared to its average volume of 139,157. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima has a 1-year low of $13.78 and a 1-year high of $51.69. The stock has a market capitalization of $1.50 billion, a PE ratio of 6.44 and a beta of 1.38. The business has a 50 day simple moving average of $36.71 and a 200-day simple moving average of $33.40. The company has a current ratio of 0.82, a quick ratio of 0.69 and a debt-to-equity ratio of 0.15.

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.