Kenon (NYSE:KEN) Shares Gap Down to $25.60

Kenon Holdings Ltd. (NYSE:KEN) gapped down prior to trading on Tuesday . The stock had previously closed at $25.60, but opened at $24.78. Kenon shares last traded at $24.72, with a volume of 720 shares changing hands.

Analyst Ratings Changes

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

Kenon Stock Performance

The company has a market capitalization of $1.34 billion, a PE ratio of -6.01 and a beta of 1.45. The firm’s fifty day simple moving average is $25.02 and its 200 day simple moving average is $24.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.08 and a quick ratio of 2.10.

Hedge Funds Weigh In On Kenon

Institutional investors and hedge funds have recently modified their holdings of the business. CWA Asset Management Group LLC acquired a new stake in Kenon in the fourth quarter valued at approximately $214,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Kenon by 3.3% in 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 acquiring an additional 75,892 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Kenon during the fourth quarter worth $39,000. BNP Paribas Financial Markets lifted its holdings in Kenon by 150.0% during the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Kenon during the second quarter valued at $2,317,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

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.