Kenon (NYSE:KEN) Shares Cross Above 50-Day Moving Average - What's Next?

Key Points

• Kenon Holdings Ltd. shares have recently crossed above their 50-day moving average, reaching a high of $43.21 during trading, with the stock last priced at $43.01.
• Wall Street Zen has downgraded Kenon from a "hold" rating to a "sell" rating, indicating a less favorable outlook for the stock.
• The company reported $0.22 EPS for the last quarter with revenue of $183 million, despite experiencing a negative return on equity of 2.64%.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $42.09 and traded as high as $43.21. Kenon shares last traded at $43.01, with a volume of 6,657 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Kenon from a "hold" rating to a "sell" rating in a report on Thursday, May 15th.

Kenon Stock Performance

The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.44. The stock's 50 day simple moving average is $42.25 and its 200 day simple moving average is $35.54.

Kenon (NYSE:KEN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter. Kenon had a net margin of 79.14% and a negative return on equity of 2.64%. The company had revenue of $183.00 million for the quarter.

Institutional Trading of Kenon

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Kenon in the 1st quarter worth approximately $254,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Kenon during the second quarter worth approximately $502,000. Norges Bank acquired a new stake in shares of Kenon during the fourth quarter worth approximately $458,000. Northern Trust Corp boosted its holdings in shares of Kenon by 104.6% during the fourth quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider's stock worth $524,000 after purchasing an additional 7,881 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Kenon during the first quarter worth approximately $575,000. Institutional investors and hedge funds own 13.38% of the company's stock.

Kenon Company Profile

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.