Kenon Holdings Ltd. (NYSE:KEN) Sees Large Growth in Short Interest

Kenon Holdings Ltd. (NYSE:KEN – Get Rating) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 84,100 shares, an increase of 39.7% from the April 15th total of 60,200 shares. Based on an average trading volume of 49,500 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.5% of the company’s stock are sold short.

NYSE KEN traded up $2.83 during trading on Friday, hitting $53.77. The company’s stock had a trading volume of 35,139 shares, compared to its average volume of 40,651. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $2.90 billion, a PE ratio of 3.11 and a beta of 1.50. The business’s 50 day simple moving average is $61.06 and its 200-day simple moving average is $53.66. Kenon has a fifty-two week low of $30.40 and a fifty-two week high of $72.90.

Kenon (NYSE:KEN – Get Rating) last issued its quarterly earnings results on Thursday, March 31st. The utilities provider reported $7.28 earnings per share for the quarter. The business had revenue of $135.00 million during the quarter. Kenon had a return on equity of 47.14% and a net margin of 190.57%.

Separately, StockNews.com began coverage on Kenon in a report on Thursday, March 31st. They issued a “hold” rating for the company.

Institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd lifted its holdings in shares of Kenon by 6.4% during the third quarter. Altshuler Shaham Ltd now owns 111,149 shares of the utilities provider’s stock worth $4,627,000 after purchasing an additional 6,654 shares during the period. Marshall Wace LLP lifted its holdings in shares of Kenon by 26.9% during the third quarter. Marshall Wace LLP now owns 17,343 shares of the utilities provider’s stock worth $719,000 after purchasing an additional 3,673 shares during the period. Credit Suisse AG lifted its holdings in shares of Kenon by 23.6% during the third quarter. Credit Suisse AG now owns 21,378 shares of the utilities provider’s stock worth $886,000 after purchasing an additional 4,083 shares during the period. Citigroup Inc. acquired a new stake in shares of Kenon during the third quarter worth about $311,000. Finally, Raymond James & Associates acquired a new stake in shares of Kenon during the third quarter worth about $259,000. 11.95% of the stock is owned by hedge funds and other institutional investors.

Kenon Company Profile (Get Rating)

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 in four segments: OPC Israel, CPV Group, ZIM, and Quantum. The company engages in the generation and supply of electricity and energy; development, construction, and management of renewable energy and conventional natural gas-fired power plants; manufacture of automobiles; and provision of container liner shipping services.

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