Kenon (NYSE:KEN) Stock Passes Above 50-Day Moving Average - Time to Sell?

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 fifty day moving average during trading on Tuesday . The stock has a fifty 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 traded.

Wall Street Analyst Weigh In

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

Kenon Stock Up 2.1%

The firm's 50 day moving average is $43.79 and its two-hundred day moving average is $36.34. The firm has a market cap of $2.37 billion, a P/E ratio of 14.17 and a beta of 1.18. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.44.

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

Institutional Investors Weigh In On Kenon

A number of institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of Kenon in the second quarter valued at about $32,000. Jane Street Group LLC boosted its position in shares of Kenon by 12.2% in the second quarter. Jane Street Group LLC now owns 9,041 shares of the utilities provider's stock valued at $373,000 after acquiring an additional 984 shares during the period. BNP Paribas Financial Markets raised its stake in 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 purchasing an additional 1,100 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its stake in Kenon by 7.1% in the second quarter. Redhawk Wealth Advisors Inc. now owns 31,550 shares of the utilities provider's stock valued at $1,311,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Kenon by 0.5% in the first quarter. Vanguard Group Inc. now owns 763,908 shares of the utilities provider's stock valued at $24,217,000 after purchasing an additional 4,176 shares in the last quarter. Institutional investors own 13.38% of the company's stock.

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.