Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) Stock Price Down 7.3%

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) traded down 7.3% on Monday . The stock traded as low as $16.24 and last traded at $16.24. 59,685 shares were traded during trading, a decline of 23% from the average session volume of 77,751 shares. The stock had previously closed at $17.51.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Empresa Distribuidora y Comercializadora Norte Sociedad Anónima from a “buy” rating to a “hold” rating in a report on Monday, March 18th.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market cap of $735.09 million, a P/E ratio of 4.44 and a beta of 1.43. The stock has a 50-day simple moving average of $17.61 and a 200-day simple moving average of $16.33.

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (NYSE:EDN) last announced its quarterly earnings results on Monday, March 11th. The utilities provider reported ($0.25) earnings per share (EPS) for the quarter. The company had revenue of $785.09 million for the quarter. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima had a net margin of 8.22% and a return on equity of 15.78%. Research analysts forecast that Empresa Distribuidora y Comercializadora Norte Sociedad Anónima will post -4.42 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Helikon Investments Ltd grew its position in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 133.1% during the 3rd quarter. Helikon Investments Ltd now owns 271,739 shares of the utilities provider’s stock worth $3,261,000 after acquiring an additional 155,145 shares during the last quarter. Citigroup Inc. bought a new stake in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the third quarter worth about $1,179,000. Renaissance Technologies LLC acquired a new position in shares of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in the fourth quarter valued at approximately $432,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima by 45.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,039 shares of the utilities provider’s stock valued at $2,093,000 after buying an additional 33,510 shares during the last quarter. Finally, Autonomy Capital Jersey L.P. acquired a new stake in Empresa Distribuidora y Comercializadora Norte Sociedad Anónima during the 3rd quarter worth approximately $78,000. 1.64% of the stock is currently owned by institutional investors and hedge funds.

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.