Kenon (NYSE:KEN) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Kenon Holdings Ltd. (NYSE:KEN)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $31.88 and traded as high as $32.10. Kenon shares last traded at $31.61, with a volume of 3,641 shares traded.

Kenon Trading Down 1.2 %

The firm has a market capitalization of $1.70 billion, a PE ratio of 9.88 and a beta of 1.39. The stock’s 50-day moving average price is $31.91 and its 200 day moving average price is $28.97. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78.

Kenon (NYSE:KEN) last issued its earnings results on Thursday, December 5th. The utilities provider reported $0.81 EPS for the quarter. Kenon had a net margin of 22.88% and a return on equity of 2.93%.

Hedge Funds Weigh In On Kenon

A number of hedge funds and other institutional investors have recently modified their holdings of KEN. CWA Asset Management Group LLC bought a new position in shares of Kenon during the third quarter valued at approximately $504,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Kenon by 3.7% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,694,216 shares of the utilities provider’s stock valued at $76,251,000 after purchasing an additional 97,256 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Kenon by 13.4% during the third quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after purchasing an additional 900 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Kenon during the third quarter valued at approximately $365,000. Finally, Barclays PLC boosted its stake in shares of Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 4,445 shares in the last quarter. 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.