Kenon (NYSE:KEN) Sees Large Volume Increase – Still a Buy?

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw unusually-strong trading volume on Friday . Approximately 17,639 shares traded hands during mid-day trading, a decline of 0% from the previous session’s volume of 17,660 shares.The stock last traded at $31.82 and had previously closed at $32.24.

Kenon Stock Down 1.5 %

The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.71 billion, a P/E ratio of 9.93 and a beta of 1.41. The company has a 50-day simple moving average of $29.89 and a two-hundred day simple moving average of $26.99.

Institutional Investors Weigh In On Kenon

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after acquiring an additional 4,445 shares during the last quarter. BNP Paribas Financial Markets raised its position in Kenon by 13.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after purchasing an additional 900 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Kenon in the 3rd quarter worth approximately $365,000. CWA Asset Management Group LLC bought a new stake in shares of Kenon in the 3rd quarter worth approximately $504,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Kenon during the third quarter valued at approximately $1,136,000. 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.