Kenon (NYSE:KEN) Stock Passes Below 50-Day Moving Average of $34.62

Kenon Holdings Ltd. (NYSE:KEN – Get Rating) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $34.62 and traded as low as $33.69. Kenon shares last traded at $34.01, with a volume of 24,584 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Kenon in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Kenon Price Performance

The firm has a 50 day moving average price of $34.62 and a 200 day moving average price of $37.97. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.83 billion, a P/E ratio of 1.18 and a beta of 1.53.

Kenon (NYSE:KEN – Get Rating) last released its earnings results on Wednesday, November 30th. The utilities provider reported $4.65 EPS for the quarter. The company had revenue of $163.00 million for the quarter. Kenon had a net margin of 273.80% and a return on equity of 56.30%.

Institutional Investors Weigh In On Kenon

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Kenon by 577.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,766 shares of the utilities provider’s stock valued at $7,116,000 after buying an additional 89,295 shares in the last quarter. BlackRock Inc. bought a new position in shares of Kenon during the first quarter worth $5,403,000. UBS Group AG boosted its position in shares of Kenon by 210.5% during the second quarter. UBS Group AG now owns 105,572 shares of the utilities provider’s stock worth $4,206,000 after acquiring an additional 71,576 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Kenon by 353.1% in the 1st quarter. JPMorgan Chase & Co. now owns 84,412 shares of the utilities provider’s stock valued at $5,733,000 after acquiring an additional 65,783 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new position in shares of Kenon during the 2nd quarter valued at about $1,400,000. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Kenon Company Profile

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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 in four segments: OPC Israel, CPV Group, ZIM, and Quantum. The company engages in the generation and supply of electricity and energy; development, construction, and management of renewable energy and conventional natural gas-fired power plants; manufacture of automobiles; and provision of container liner shipping services.