Kenon (NYSE:KEN) Shares Gap Up – Here’s What Happened

Kenon Holdings Ltd. (NYSE:KEN)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $31.92, but opened at $32.70. Kenon shares last traded at $32.81, with a volume of 5,991 shares.

Kenon Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78. The company has a fifty day moving average price of $29.42 and a two-hundred day moving average price of $26.80. The company has a market cap of $1.81 billion, a P/E ratio of 10.49 and a beta of 1.44.

Institutional Investors Weigh In On Kenon

A number of institutional investors and hedge funds have recently modified their holdings of KEN. Barclays PLC boosted its position in Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 4,445 shares during the period. BNP Paribas Financial Markets raised its holdings in Kenon by 13.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 900 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Kenon during the third quarter worth approximately $365,000. CWA Asset Management Group LLC bought a new stake in shares of Kenon during the third quarter worth approximately $504,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Kenon during the third quarter worth approximately $1,136,000. 13.38% 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.