Kenon (NYSE:KEN) Shares Cross Above 50-Day Moving Average - Here's Why

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $32.20 and traded as high as $32.66. Kenon shares last traded at $32.26, with a volume of 7,004 shares trading hands.

Kenon Trading Down 2.1 %

The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The firm's 50-day moving average is $32.12 and its 200-day moving average is $30.03. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 9.83 and a beta of 1.33.

Institutional Trading of Kenon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEN. BNP Paribas Financial Markets boosted its position 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 valued at $212,000 after buying an additional 900 shares during the last quarter. Barclays PLC boosted its holdings in 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 acquiring an additional 4,445 shares during the last quarter. CWA Asset Management Group LLC grew its stake in shares of Kenon by 25.7% in the 4th quarter. CWA Asset Management Group LLC now owns 22,666 shares of the utilities provider's stock worth $771,000 after acquiring an additional 4,632 shares in the last quarter. Anfield Capital Management LLC raised its holdings in shares of Kenon by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider's stock valued at $317,000 after purchasing an additional 4,669 shares during the last quarter. Finally, Y.D. More Investments Ltd lifted its position in shares of Kenon by 2.8% during the 4th quarter. Y.D. More Investments Ltd now owns 206,333 shares of the utilities provider's stock worth $6,885,000 after buying an additional 5,705 shares in the last quarter. 13.38% of the stock is owned by institutional investors.

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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.