Kenon (NYSE:KEN) Shares Gap Up to $23.80

Kenon Holdings Ltd. (NYSE:KEN)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $23.80, but opened at $24.44. Kenon shares last traded at $24.58, with a volume of 3,370 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Kenon in a research note on Thursday, August 17th. They set a “sell” rating on the stock.

Kenon Price Performance

The firm’s 50 day simple moving average is $24.60 and its two-hundred day simple moving average is $26.18. The company has a current ratio of 3.03, a quick ratio of 3.03 and a debt-to-equity ratio of 0.56.

Hedge Funds Weigh In On Kenon

A number of large investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in shares of Kenon during the 4th quarter worth approximately $119,793,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Kenon by 19.3% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,007,939 shares of the utilities provider’s stock valued at $58,544,000 after buying an additional 325,163 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Kenon by 577.2% during the first quarter. Goldman Sachs Group Inc. now owns 104,766 shares of the utilities provider’s stock worth $7,116,000 after buying an additional 89,295 shares during the period. JPMorgan Chase & Co. grew its holdings in Kenon by 144.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 143,261 shares of the utilities provider’s stock worth $3,328,000 after buying an additional 84,704 shares in the last quarter. Finally, BlackRock Inc. acquired a new stake in Kenon in the 1st quarter valued at approximately $5,403,000. Institutional investors own 14.83% 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.