Kenon (NYSE:KEN) Shares Pass Below Fifty Day Moving Average of $20.39

Kenon Holdings Ltd (NYSE:KEN) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $20.39 and traded as low as $20.29. Kenon shares last traded at $20.30, with a volume of 310 shares.

Separately, ValuEngine cut shares of Kenon from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd.

The stock’s fifty day simple moving average is $20.39 and its 200-day simple moving average is $18.67. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.79.

Kenon (NYSE:KEN) last released its quarterly earnings data on Monday, June 1st. The utilities provider reported $0.28 earnings per share for the quarter. The firm had revenue of $89.00 million for the quarter. Kenon had a net margin of 3.73% and a negative return on equity of 1.10%.

A number of hedge funds have recently added to or reduced their stakes in KEN. Norges Bank purchased a new position in Kenon during the fourth quarter valued at $22,663,000. Meitav Dash Investments Ltd. acquired a new position in shares of Kenon in the first quarter valued at approximately $1,354,000. Jane Street Group LLC acquired a new position in shares of Kenon in the first quarter valued at approximately $199,000. Marshall Wace LLP acquired a new position in Kenon during the 4th quarter worth approximately $76,000. Finally, Bank of America Corp DE grew its holdings in Kenon by 34.5% during the 4th quarter. Bank of America Corp DE now owns 4,001 shares of the utilities provider’s stock worth $84,000 after acquiring an additional 1,026 shares in the last quarter. Institutional investors own 1.09% of the company’s stock.

About Kenon (NYSE:KEN)

Kenon Holdings Ltd., through its subsidiaries, owns, develops, and operates power generation facilities in Israel. It operates through OPC, Qoros, and Other segments. The company's power generation plants operate on natural gas and diesel. It also designs, manufactures, sells, and services passenger vehicles, parts, and accessories through a network of independent authorized retail dealers in China.

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