Kenon (NYSE:KEN) Shares Gap Up – Should You Buy?

Kenon Holdings Ltd. (NYSE:KEN) gapped up before the market opened on Monday . The stock had previously closed at $77.89, but opened at $83.73. Kenon shares last traded at $84.2860, with a volume of 7,709 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Kenon in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Kenon Stock Up 8.4%

The business’s fifty day simple moving average is $72.52 and its 200 day simple moving average is $58.51. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 109.63 and a beta of 1.14. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.43.

Kenon (NYSE:KEN) last released its quarterly earnings data 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

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in Kenon during the second quarter valued at approximately $32,000. Susquehanna Advisors Group Inc. bought a new stake in Kenon during the 4th quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kenon by 24.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock valued at $206,000 after acquiring an additional 610 shares during the period. PDT Partners LLC bought a new position in shares of Kenon during the fourth quarter valued at $232,000. Finally, Jane Street Group LLC acquired a new position in shares of Kenon during the first quarter worth $254,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.