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

Kenon Holdings Ltd. (NYSE:KEN)’s share 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.

Kenon Stock Down 1.2 %

The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 9.88 and a beta of 1.39. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $31.91 and a 200-day moving average price of $28.94.

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

Institutional Investors Weigh In On Kenon

A number of large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Kenon by 4,233.3% during the 3rd 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 period. BNP Paribas Financial Markets lifted its stake in Kenon by 13.4% in the third quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after buying an additional 900 shares during the last quarter. Anfield Capital Management LLC boosted its holdings in shares of Kenon by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock valued at $317,000 after acquiring an additional 4,669 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Kenon during the third quarter worth about $365,000. Finally, Norges Bank bought a new position in shares of Kenon during the fourth quarter worth about $458,000. 13.38% of the stock is owned by institutional investors and hedge funds.

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.