Kenon (NYSE:KEN) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Kenon Holdings Ltd. (NYSE:KEN)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $32.06 and traded as high as $32.74. Kenon shares last traded at $32.51, with a volume of 13,485 shares.

Kenon Stock Performance

The stock has a fifty day simple moving average of $32.04 and a 200-day simple moving average of $30.22. 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 company has a market capitalization of $1.65 billion, a P/E ratio of 9.57 and a beta of 1.33.

Hedge Funds Weigh In On Kenon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KEN. JPMorgan Chase & Co. bought a new position in shares of Kenon in the third quarter valued at approximately $1,136,000. Barclays PLC boosted its stake in 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 in the last quarter. BNP Paribas Financial Markets grew its holdings 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 worth $212,000 after purchasing an additional 900 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Kenon in the fourth quarter valued at $746,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Kenon by 3.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock valued at $92,868,000 after buying an additional 88,762 shares in the last quarter. 13.38% of the stock is currently 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.