Kenon (NYSE:KEN) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Kenon Holdings Ltd. (NYSE:KEN) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $31.39 and traded as high as $31.50. Kenon shares last traded at $31.55, with a volume of 8,753 shares traded.

Kenon Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78. The business’s fifty day simple moving average is $31.39 and its 200 day simple moving average is $28.28. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 9.86 and a beta of 1.39.

Kenon (NYSE:KEN) last posted its quarterly earnings results on Thursday, December 5th. The utilities provider reported $0.81 EPS for the quarter. Kenon had a net margin of 22.88% and a return on equity of 2.93%.

Hedge Funds Weigh In On Kenon

Institutional investors have recently made changes to their positions in the stock. CWA Asset Management Group LLC acquired a new stake in Kenon in the third quarter worth $504,000. JPMorgan Chase & Co. acquired a new stake in shares of Kenon in the 3rd quarter worth about $1,136,000. Barclays PLC lifted its position in Kenon by 4,233.3% in the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 4,445 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Kenon by 13.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after purchasing an additional 900 shares during the period. Finally, Redhawk Wealth Advisors Inc. bought a new position in Kenon in the 4th quarter worth about $746,000. 13.38% of the stock is 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.