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

Kenon Holdings Ltd. (NYSE:KEN)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $32.20 and traded as high as $32.66. Kenon shares last traded at $32.26, with a volume of 7,004 shares changing hands.

Kenon Price Performance

The stock has a market cap of $1.73 billion, a PE ratio of 10.05 and a beta of 1.33. The business has a fifty day simple moving average of $32.16 and a two-hundred day simple moving average of $29.95. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64.

Institutional Investors Weigh In On Kenon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in shares of Kenon during the 3rd quarter valued at $1,136,000. Barclays PLC lifted its position in Kenon by 4,233.3% during the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after acquiring an additional 4,445 shares during the period. BNP Paribas Financial Markets boosted its stake in Kenon by 13.4% during the third quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 900 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in Kenon in the fourth quarter worth about $746,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in Kenon by 3.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock worth $92,868,000 after purchasing an additional 88,762 shares during the period. 13.38% of the stock is owned by hedge funds and other 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.