Kenon (NYSE:KEN) Stock Crosses Above Fifty 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%.

Shares of Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-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 traded.

Analyst Ratings Changes

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

Kenon Stock Up 4.1%

The firm has a market capitalization of $2.32 billion, a P/E ratio of 13.90 and a beta of 1.18. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.45 and a current ratio of 5.45. The stock has a fifty day moving average price of $42.38 and a two-hundred day moving average price of $35.59.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in shares of Kenon in the first quarter valued at approximately $254,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Kenon in the 2nd quarter valued at about $502,000. Northern Trust Corp increased its stake in shares of Kenon by 104.6% during the 4th 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 last quarter. Norges Bank purchased a new stake in shares of Kenon during the 2nd quarter worth approximately $566,000. Finally, Nuveen LLC purchased a new position in Kenon in the 1st quarter valued at approximately $575,000. 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.