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

Kenon Holdings Ltd. (NYSE:KEN) shares 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 changing hands.

Kenon Price Performance

The firm’s fifty day simple moving average is $31.91 and its 200 day simple moving average is $28.97. The firm has a market cap of $1.70 billion, a P/E ratio of 9.88 and a beta of 1.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78.

Kenon (NYSE:KEN) last released its quarterly earnings data 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%.

Institutional Trading of Kenon

Several hedge funds have recently made changes to their positions in KEN. CWA Asset Management Group LLC purchased a new stake in Kenon in the 3rd quarter worth about $504,000. JPMorgan Chase & Co. purchased a new stake in Kenon in the 3rd quarter worth about $1,136,000. Barclays PLC raised its position in Kenon by 4,233.3% in 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 raised its position 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 purchasing an additional 900 shares during the period. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in Kenon in the 4th quarter worth about $746,000. 13.38% of the stock is currently owned by hedge funds and other 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.