Kenon (NYSE:KEN) Hits New 52-Week High – Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $29.04 and last traded at $28.96, with a volume of 7210 shares traded. The stock had previously closed at $28.78.

Kenon Stock Performance

The firm’s 50-day moving average price is $26.48 and its two-hundred day moving average price is $25.18. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $1.56 billion, a PE ratio of -19.99 and a beta of 1.45.

Kenon (NYSE:KEN) last posted its quarterly earnings data on Monday, September 9th. The utilities provider reported $0.02 EPS for the quarter. Kenon had a negative net margin of 10.61% and a negative return on equity of 9.48%. The firm had revenue of $181.00 million during the quarter.

Institutional Investors Weigh In On Kenon

Several hedge funds have recently bought and sold shares of KEN. CWA Asset Management Group LLC acquired a new position in Kenon in the 3rd quarter valued at approximately $504,000. Y.D. More Investments Ltd acquired a new position in Kenon in the second quarter worth approximately $4,371,000. Assenagon Asset Management S.A. acquired a new position in shares of Kenon during the 2nd quarter worth $2,317,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Kenon by 150.0% in the 1st 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 during the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

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.