Kenon (NYSE:KEN) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Kenon Holdings Ltd. (NYSE:KEN) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $72.52 and traded as high as $79.07. Kenon shares last traded at $78.0350, with a volume of 26,061 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Kenon in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Kenon presently has an average rating of “Hold”.

Kenon Trading Down 3.5%

The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.66 and a current ratio of 4.66. The firm has a market capitalization of $4.07 billion, a P/E ratio of 101.34 and a beta of 1.15. The firm has a 50 day moving average price of $72.52 and a two-hundred day moving average price of $58.30.

Kenon (NYSE:KEN) last announced its earnings results on Wednesday, November 19th. The utilities provider reported $0.48 EPS for the quarter. The business had revenue of $265.00 million during the quarter. Kenon had a negative return on equity of 2.81% and a net margin of 59.34%.

Institutional Investors Weigh In On Kenon

Several hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Kenon during the 2nd quarter worth approximately $32,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Kenon during the fourth quarter valued at $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Kenon by 24.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock valued at $206,000 after buying an additional 610 shares during the period. PDT Partners LLC acquired a new position in Kenon during the fourth quarter valued at $232,000. Finally, Tidal Investments LLC purchased a new stake in Kenon in the 2nd quarter worth about $256,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About Kenon

Kenon Holdings Ltd. (NYSE: KEN) is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.