Kenon (NYSE:KEN) Shares Gap Down to $24.67

Shares of Kenon Holdings Ltd. (NYSE:KEN) gapped down prior to trading on Monday . The stock had previously closed at $24.67, but opened at $23.95. Kenon shares last traded at $23.95, with a volume of 861 shares.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Kenon in a report on Thursday, August 17th. They issued a “sell” rating for the company.

Kenon Trading Up 1.2 %

The business has a 50 day simple moving average of $24.66 and a 200-day simple moving average of $26.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.90 and a current ratio of 2.90. The stock has a market capitalization of $1.30 billion, a P/E ratio of -3.90 and a beta of 1.38.

Kenon (NYSE:KEN) last issued its quarterly earnings results on Monday, June 5th. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $147.00 million for the quarter. Kenon had a negative net margin of 58.05% and a negative return on equity of 12.90%.

Hedge Funds Weigh In On Kenon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund bought a new position in Kenon during the 4th quarter valued at $26,000. Citigroup Inc. boosted its stake in shares of Kenon by 29.0% during the 1st quarter. Citigroup Inc. now owns 3,691 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 829 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Kenon by 16.0% during the 1st quarter. Raymond James & Associates now owns 7,260 shares of the utilities provider’s stock worth $493,000 after acquiring an additional 1,000 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Kenon during the 2nd quarter worth $48,000. Finally, Acadian Asset Management LLC boosted its stake in shares of Kenon by 10.1% during the 1st quarter. Acadian Asset Management LLC now owns 19,165 shares of the utilities provider’s stock worth $555,000 after acquiring an additional 1,754 shares in the last quarter. 14.83% of the stock is owned by institutional investors.

About Kenon

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 through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.