Kenon (NYSE:KEN) Stock Passes Above 50 Day Moving Average – What’s Next?

Kenon Holdings Ltd. (NYSE:KEN)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $25.28 and traded as high as $26.55. Kenon shares last traded at $26.46, with a volume of 2,674 shares trading hands.

Kenon Stock Up 0.3 %

The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $1.43 billion, a PE ratio of -6.41 and a beta of 1.46. The stock’s fifty day simple moving average is $25.28 and its 200-day simple moving average is $24.61.

Kenon (NYSE:KEN) last released its quarterly earnings results on Monday, September 9th. The utilities provider reported $0.02 earnings per share for the quarter. The business had revenue of $181.00 million for the quarter. Kenon had a negative net margin of 10.61% and a negative return on equity of 9.48%.

Institutional Investors Weigh In On Kenon

A number of hedge funds have recently made changes to their positions in the business. Y.D. More Investments Ltd bought a new stake in Kenon in the second quarter worth about $4,371,000. Assenagon Asset Management S.A. bought a new stake in shares of Kenon in the 2nd quarter worth approximately $2,317,000. BNP Paribas Financial Markets lifted its stake in Kenon by 150.0% in the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in Kenon during the fourth quarter valued at $39,000. 13.38% of the stock is currently owned by institutional investors.

About Kenon

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.