Enel Chile (NYSE:ENIC) Shares Down 3.5% – Should You Sell?

Enel Chile S.A. (NYSE:ENIC) shares dropped 3.5% on Wednesday . The stock traded as low as $3.32 and last traded at $3.32. Approximately 281,760 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 469,989 shares. The stock had previously closed at $3.44.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Enel Chile from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd.

Enel Chile Trading Down 7.6 %

The company has a market cap of $4.28 billion, a price-to-earnings ratio of 5.07 and a beta of 0.99. The firm has a 50-day moving average price of $3.30 and a 200 day moving average price of $2.97.

Institutional Trading of Enel Chile

Institutional investors have recently added to or reduced their stakes in the business. Advisors Preferred LLC acquired a new position in shares of Enel Chile in the 4th quarter valued at about $25,000. Intelligence Driven Advisers LLC acquired a new position in Enel Chile in the fourth quarter valued at approximately $31,000. Caprock Group LLC bought a new position in shares of Enel Chile during the fourth quarter valued at approximately $32,000. Wealthstream Advisors Inc. bought a new stake in shares of Enel Chile in the 4th quarter worth approximately $37,000. Finally, Truist Financial Corp acquired a new position in Enel Chile during the 4th quarter valued at approximately $38,000. Institutional investors own 3.20% of the company’s stock.

Enel Chile Company Profile

Enel Chile SA, an electricity utility company, engages in the generation, transmission, and distribution of electricity in Chile. The company operates through Generation, and Distribution and Networks Segments. It generates electricity through various sources, such as hydroelectric, thermal, wind, solar, and geothermal power plants.