Empresa Distribuidora Y Comerci (NYSE:EDN) Stock Closed 9.1% Above Its 50 Day Average


Shares of the company are trading at $42.85 a bit higher than $39.26, the stock’s 50 day moving average and well above the 200 day moving average of $34.21. The 50 day moving average was up $3.59 or +9.14% and the 200 day average was up $8.64. 1,626 shares changed hands on Tuesday. Overall, volume was down 95.28% under the stocks normal daily volume.

Investors are more bearish on shares of the company recently as indicated by the increase in short interest. The firm saw a rise in short interest of 50.93% as of September 29, 2017 from the last reporting period. Short interest increased 19,978 over that timeframe. Days to cover decreased from 1.0 to 1.0 and the percentage of shorted shares was 0.00% on September 29.

Here are a few substantial investment firms who have updated their positions. Charlemagne Capital Ltd added to its ownership by buying 1,954 shares an increase of 12.4%. Charlemagne Capital Ltd now holds 17,764 shares worth $616,000. The value of the position overall is up by 43.6%. Bienville Capital Management, LLC cut its investment by shedding 100,436 shares a decrease of 57.4% from 03/31/2017 to 06/30/2017. Bienville Capital Management, LLC claims 74,514 shares valued at $2,377,000. The total value of its holdings decreased 61.0%.

Baring Asset Management Ltd divested its holdings by selling 9,207 shares a decrease of 9.0% as of 06/30/2017. Baring Asset Management Ltd currently owns 93,280 shares with a value of $2,976,000. The total value of its holdings decreased 16.6%. Atria Investments LLC grew its position by buying 943 shares an increase of 12.8% in the quarter. Atria Investments LLC controls 8,300 shares worth $330,000. The total value of its holdings increased 40.4%.

Empresa Distribuidora Y Comerci currently has a P/E ratio of 89.27 and the market cap is 1.93B. In the latest earnings report the EPS was $0.48 and is estimated to be $0.33 for the current year with 44,933,000 shares outstanding. Analysts expect next quarter’s EPS to be $-0.26 with next year’s EPS projected to be $4.39.

Empresa Distribuidora y Comercializadora Norte S.A., launched on August 3, 1992, is a public service company. The Company is involved in electricity distribution in Argentina. The Company holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of the City of Buenos Aires. The Company has the right to distribute electricity within its concession area for a period of approximately 95 years. The Business’s concession area of approximately 4,637 square kilometers is divided into three operating territories: Region I, which consists of over 251 square kilometers; Region II, which consists of approximately 1,761 square kilometers, and Region III, which consists of over 2,625 square kilometers. The Business’s Region I operating territory includes Ciudad de Buenos Aires, San Isidro, Vicente Lopez, San Martin and Tres de Febrero districts. Its Region II operating territory includes La Matanza, Moron, Hurlingham, Ituzaingo, Merlo, Marcos Paz and Gral. Las Heras districts. Its Region III operating territory includes Pilar, Escobar, Tigre, San Fernando, San Miguel, Malvinas Argentinas, Jose C. Paz, Moreno and Gral. Rodriguez districts. The Company serves residential and small commercial customers, medium commercial customers, industrial customers and public lighting customers..