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

Kenon Holdings Ltd. (NYSE:KEN) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $25.88 and traded as high as $27.25. Kenon shares last traded at $27.09, with a volume of 3,373 shares traded.

Kenon Price 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 business’s 50 day moving average price is $25.93 and its two-hundred day moving average price is $24.72. The stock has a market cap of $1.46 billion, a P/E ratio of -18.78 and a beta of 1.46.

Kenon (NYSE:KEN) last issued 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 net margin of 10.61% and a negative return on equity of 9.48%. The company had revenue of $181.00 million during the quarter.

Institutional Investors Weigh In On Kenon

Several hedge funds have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd purchased a new position in Kenon in the 2nd quarter worth approximately $4,371,000. Assenagon Asset Management S.A. purchased a new position in Kenon in the 2nd quarter worth about $2,317,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Kenon by 150.0% during the 1st 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 during the last quarter. 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.