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Kenon (NYSE:KEN) Shares Cross Above 50-Day Moving Average - Here's Why

Kenon logo with Utilities background

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $37.30 and traded as high as $45.02. Kenon shares last traded at $44.70, with a volume of 20,168 shares changing hands.

Analyst Ratings Changes

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

Get Our Latest Stock Report on Kenon

Kenon Trading Up 0.6%

The stock has a 50 day moving average of $37.62 and a 200 day moving average of $33.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 5.45 and a quick ratio of 5.45. The firm has a market cap of $2.44 billion, a P/E ratio of 14.63 and a beta of 1.16.

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

Hedge Funds Weigh In On Kenon

A number of large investors have recently bought and sold shares of KEN. Norges Bank bought a new position in shares of Kenon during the fourth quarter valued at about $458,000. Northern Trust Corp raised its position in Kenon by 104.6% during the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider's stock valued at $524,000 after purchasing an additional 7,881 shares during the last quarter. Bank of America Corp DE lifted its holdings in Kenon by 1,139.9% in the 4th quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider's stock worth $774,000 after buying an additional 20,928 shares during the period. LPL Financial LLC purchased a new stake in Kenon in the 4th quarter worth approximately $998,000. Finally, Vanguard Group Inc. grew its position in shares of Kenon by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider's stock worth $25,370,000 after buying an additional 15,249 shares during the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

About Kenon

(Get Free Report)

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.

Further Reading

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