Kenon (NYSE:KEN) Share Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Kenon Holdings Ltd. (NYSE:KEN) shares crossed above their 50-day moving average of $43.21, reaching a high of $45.07 during trading, with the last traded price at $44.83.
• Analysts at Wall Street Zen downgraded Kenon from a "hold" to a "sell" rating, indicating a negative outlook for the stock.
• The company reported $0.22 earnings per share with revenues of $183 million, highlighting a strong net margin of 79.14% despite a negative return on equity of -2.64%.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $43.21 and traded as high as $45.07. Kenon shares last traded at $44.83, with a volume of 4,090 shares.

Analysts Set New Price Targets

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

Kenon Trading Up 0.1%

The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $43.97 and a 200 day simple moving average of $36.50. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 14.14 and a beta of 1.18.

Kenon (NYSE:KEN - Get Free Report) last released its earnings results on Wednesday, May 28th. The utilities provider reported $0.22 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 during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Kenon in the second quarter valued at $32,000. Tidal Investments LLC purchased a new position in shares of Kenon in the second quarter valued at $256,000. Jane Street Group LLC purchased a new position in shares of Kenon in the first quarter valued at $254,000. BNP Paribas Financial Markets increased its position in shares of Kenon by 13.8% in the second quarter. BNP Paribas Financial Markets now owns 9,100 shares of the utilities provider's stock valued at $378,000 after buying an additional 1,100 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Kenon in the second quarter valued at $502,000. Hedge funds and other institutional investors 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.