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

Kenon Holdings Ltd. (NYSE:KEN)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $34.00, but opened at $32.41. Kenon shares last traded at $32.55, with a volume of 9,151 shares trading hands.

Kenon Trading Down 1.5 %

The company has a fifty day moving average of $29.89 and a 200-day moving average of $26.99. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 9.93 and a beta of 1.41.

Institutional Investors Weigh In On Kenon

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Y.D. More Investments Ltd purchased a new stake in Kenon in the 2nd quarter valued at $4,371,000. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Kenon by 3.7% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,694,216 shares of the utilities provider’s stock valued at $76,251,000 after acquiring an additional 97,256 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Kenon in the third quarter valued at about $1,136,000. CWA Asset Management Group LLC purchased a new position in Kenon during the third quarter worth about $504,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Kenon during the third quarter worth about $365,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

Kenon Company Profile

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.