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

by · The Cerbat Gem

Shares of Kenon Holdings Ltd. (NYSE:KEN – Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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 changing hands.

Kenon Stock Performance

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 firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.32 and a beta of 1.46. The company has a 50-day moving average of $25.33 and a 200-day moving average of $24.64.

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

Institutional Investors Weigh In On Kenon

Several large investors have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd acquired a new stake in Kenon in the second quarter worth $4,371,000. Assenagon Asset Management S.A. acquired a new stake in Kenon in the second quarter worth $2,317,000. BNP Paribas Financial Markets increased its holdings 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 purchasing an additional 1,800 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in shares of Kenon during the fourth quarter valued at $39,000. 13.38% of the stock is owned by institutional investors and hedge funds.

About Kenon

(Get Free Report)

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.

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