Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Down 4.7% – Here’s What Happened

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) traded down 4.7% during mid-day trading on Tuesday . The company traded as low as $46.32 and last traded at $46.88. 207,652 shares traded hands during mid-day trading, an increase of 102% from the average session volume of 102,605 shares. The stock had previously closed at $49.18.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The stock’s 50-day moving average price is $33.51 and its 200 day moving average price is $23.68. The firm has a market cap of $2.12 billion, a P/E ratio of 9.11 and a beta of 1.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.69.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Helikon Investments Ltd lifted its stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.5% in the second quarter. Helikon Investments Ltd now owns 502,260 shares of the utilities provider’s stock valued at $8,232,000 after acquiring an additional 157,042 shares during the last quarter. Ping Capital Management Inc. bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the 2nd quarter valued at about $941,000. 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 purchasing an additional 40,173 shares during the last quarter. Walleye Capital LLC bought a new position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth about $237,000. Finally, BlueCrest Capital Management Ltd increased its position in 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 buying an additional 20,000 shares during the last quarter. 1.64% of the stock is currently owned by 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.