Kenon (NYSE:KEN) Share Price Passes Above 50-Day Moving Average of $24.65

Kenon Holdings Ltd. (NYSE:KEN)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $24.65 and traded as high as $26.26. Kenon shares last traded at $26.18, with a volume of 14,785 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Kenon from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th.

Kenon Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.74, a current ratio of 2.10 and a quick ratio of 2.10. The business’s 50 day moving average price is $24.65 and its 200-day moving average price is $24.37. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.34 and a beta of 1.45.

Kenon (NYSE:KEN) last issued its earnings results on Monday, June 3rd. The utilities provider reported $0.15 earnings per share for the quarter. Kenon had a negative net margin of 30.60% and a negative return on equity of 10.64%. The company had revenue of $174.00 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new position in Kenon during the fourth quarter worth about $39,000. BNP Paribas Financial Markets grew its position in Kenon by 150.0% during the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock worth $80,000 after buying an additional 1,800 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Kenon in the fourth quarter valued at about $214,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Kenon by 3.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock valued at $57,746,000 after purchasing an additional 75,892 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.