Kenon (NYSE:KEN) Stock Passes Above Fifty Day Moving Average – Here’s Why

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 Trading Up 0.3 %

The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.69. The company 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 moving average price is $25.28 and its two-hundred day moving average price is $24.61.

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

Institutional Investors Weigh In On Kenon

Hedge funds have recently made changes to their positions in the company. Y.D. More Investments Ltd purchased a new position in Kenon during the 2nd quarter valued at about $4,371,000. Assenagon Asset Management S.A. purchased a new stake in shares of Kenon during the second quarter valued at approximately $2,317,000. BNP Paribas Financial Markets increased its position in shares of Kenon by 150.0% during the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in Kenon in the 4th quarter worth approximately $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.