Short Interest in Kenon Holdings Ltd. (NYSE:KEN) Grows By 9.9%

Kenon Holdings Ltd. (NYSE:KEN) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 26,600 shares, a growth of 9.9% from the May 31st total of 24,200 shares. Based on an average daily volume of 32,900 shares, the short-interest ratio is currently 0.8 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new stake in Kenon during the 4th quarter worth about $39,000. BNP Paribas Financial Markets lifted its holdings in Kenon by 150.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,800 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in Kenon during the 4th quarter worth about $214,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its holdings in Kenon by 3.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock worth $57,746,000 after purchasing an additional 75,892 shares in the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Kenon Stock Performance

NYSE:KEN opened at $24.04 on Thursday. The stock has a market cap of $1.30 billion, a P/E ratio of -5.82 and a beta of 1.45. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.74. The stock’s 50-day moving average is $24.22 and its 200-day moving average is $24.34. Kenon has a 1-year low of $17.64 and a 1-year high of $28.99.

Kenon (NYSE:KEN) last released its quarterly earnings results on Monday, June 3rd. The utilities provider reported $0.15 earnings per share for the quarter. Kenon had a negative return on equity of 10.64% and a negative net margin of 30.60%. The company had revenue of $174.00 million for the quarter.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Kenon from a “sell” rating to a “hold” rating in a research report on Wednesday, June 5th.

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.