Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Sees Large Volume Increase – Time to Buy?

Shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) saw unusually-high trading volume on Wednesday . Approximately 284,533 shares traded hands during trading, a decline of 11% from the previous session’s volume of 318,616 shares.The stock last traded at $39.34 and had previously closed at $42.62.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Trading Down 0.9 %

The business has a 50 day simple moving average of $40.31 and a 200-day simple moving average of $26.92. 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 capitalization of $1.68 billion, a P/E ratio of 7.22 and a beta of 1.45.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 73.7% in the fourth quarter. GAMMA Investing LLC now owns 1,596 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 677 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the third quarter worth $237,000. Quadrature Capital Ltd acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the third quarter worth $260,000. BNP Paribas Financial Markets increased its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 4,310.4% in the third quarter. BNP Paribas Financial Markets now owns 41,105 shares of the utilities provider’s stock worth $911,000 after acquiring an additional 40,173 shares during the last quarter. Finally, BlueCrest Capital Management Ltd increased its stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 66.7% in the third quarter. BlueCrest Capital Management Ltd now owns 50,000 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 1.64% of the company’s stock.

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.