Kenon (NYSE:KEN) Shares Pass Above 50 Day Moving Average – Here’s Why

Shares of Kenon Holdings Ltd. (NYSE:KEN) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $32.20 and traded as high as $32.66. Kenon shares last traded at $32.26, with a volume of 7,004 shares.

Kenon Stock Performance

The business’s 50-day moving average is $32.16 and its 200 day moving average is $29.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78. The company has a market cap of $1.73 billion, a PE ratio of 10.05 and a beta of 1.33.

Institutional Investors Weigh In On Kenon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in Kenon by 13.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 900 shares during the last quarter. Barclays PLC grew its stake in shares of Kenon by 4,233.3% in the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 4,445 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of Kenon by 25.7% in the fourth quarter. CWA Asset Management Group LLC now owns 22,666 shares of the utilities provider’s stock worth $771,000 after purchasing an additional 4,632 shares during the last quarter. Anfield Capital Management LLC increased its holdings in Kenon by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock valued at $317,000 after purchasing an additional 4,669 shares during the period. Finally, Y.D. More Investments Ltd raised its position in Kenon by 2.8% during the 4th quarter. Y.D. More Investments Ltd now owns 206,333 shares of the utilities provider’s stock valued at $6,885,000 after purchasing an additional 5,705 shares during the last quarter. 13.38% of the stock is currently owned by institutional investors.

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.