Kenon (NYSE:KEN) Shares Gap Up – Still a Buy?

Kenon Holdings Ltd. (NYSE:KEN) gapped up before the market opened on Tuesday . The stock had previously closed at $79.94, but opened at $83.18. Kenon shares last traded at $84.3960, with a volume of 6,849 shares traded.

Wall Street Analyst Weigh In

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

Kenon Stock Performance

The company has a market cap of $4.50 billion, a PE ratio of 111.97 and a beta of 1.14. The stock’s 50 day simple moving average is $76.74 and its two-hundred day simple moving average is $61.82. The company has a quick ratio of 4.66, a current ratio of 3.10 and a debt-to-equity ratio of 0.66.

Institutional Investors Weigh In On Kenon

A number of institutional investors have recently added to or reduced their stakes in KEN. Raymond James Financial Inc. purchased a new position in shares of Kenon in the 2nd quarter worth about $32,000. Susquehanna Advisors Group Inc. purchased a new stake in shares of Kenon during the 4th quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kenon by 24.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after purchasing an additional 610 shares in the last quarter. PDT Partners LLC acquired a new stake in Kenon during the 4th quarter worth approximately $232,000. Finally, Jane Street Group LLC purchased a new position in Kenon in the first quarter valued at approximately $254,000. 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.