Kenon (NYSE:KEN) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Technical breakout: Kenon shares crossed above their 50‑day moving average of $77.84, trading as high as $80.23 and last at $79.895 on a volume of 27,332 shares.
• Analyst and institutional view: Weiss Ratings reaffirmed a "Hold" and the consensus rating is Hold, while hedge funds own about 13.38% of the stock with several firms initiating modest new positions recently.
• Company fundamentals: Kenon has a market capitalization of $4.17 billion, a high trailing PE of 103.76 and a 200‑day moving average of $63.02, and is an energy/infrastructure investment holding whose principal asset is QPI Ltd., an Israeli power plant and LNG terminal operator.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $77.84 and traded as high as $80.23. Kenon shares last traded at $79.8950, with a volume of 27,332 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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 data from MarketBeat.com, the company has a consensus rating of "Hold".

Kenon Stock Down 0.7%

The company has a market capitalization of $4.17 billion, a PE ratio of 103.76 and a beta of 1.14. The company's fifty day moving average is $77.84 and its 200-day moving average is $63.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.66 and a current ratio of 3.10.

Institutional Trading of Kenon

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Kenon in the 2nd quarter worth $32,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Kenon in the fourth quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Kenon by 24.2% in the fourth 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 in the last quarter. PDT Partners LLC bought a new position in shares of Kenon in the fourth quarter worth about $232,000. Finally, Tidal Investments LLC purchased a new stake in shares of Kenon during the second quarter worth about $256,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

Kenon Company Profile

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.

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