Kenon (NYSE:KEN) Stock Passes Above 50 Day Moving Average of $24.96

Kenon Holdings Ltd. (NYSE:KEN) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $24.96 and traded as high as $25.16. Kenon shares last traded at $24.80, with a volume of 12,783 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Kenon from a “sell” rating to a “hold” rating in a report on Wednesday, June 5th.

Kenon Trading Down 1.3 %

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -5.93 and a beta of 1.45. The firm’s 50-day moving average is $24.96 and its 200-day moving average is $24.49. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.74.

Hedge Funds Weigh In On Kenon

Several large investors have recently added to or reduced their stakes in the business. Scarborough Advisors LLC purchased a new stake in Kenon in the 4th quarter valued at $39,000. BNP Paribas Financial Markets lifted its position in shares of Kenon by 150.0% during the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,800 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Kenon during the fourth quarter valued at about $214,000. Assenagon Asset Management S.A. purchased a new position in Kenon during the second quarter worth about $2,317,000. Finally, Y.D. More Investments Ltd bought a new stake in Kenon in the 2nd quarter worth about $4,371,000. Institutional investors own 13.38% of the company’s stock.

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.