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

Kenon Holdings Ltd. (NYSE:KEN)’s stock price gapped down before the market opened 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.

Analyst Ratings Changes

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

Kenon Price Performance

The company has a quick ratio of 2.10, a current ratio of 3.08 and a debt-to-equity ratio of 0.69. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -5.93 and a beta of 1.45. The company’s 50-day moving average price is $25.04 and its 200-day moving average price is $24.47.

Hedge Funds Weigh In On Kenon

Several institutional investors have recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of 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 valued at $57,746,000 after buying an additional 75,892 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of Kenon in the 2nd quarter valued at approximately $4,371,000. Assenagon Asset Management S.A. acquired a new stake in shares of Kenon in the 2nd quarter valued at $2,317,000. CWA Asset Management Group LLC acquired a new position in shares of Kenon during the fourth quarter worth $214,000. Finally, BNP Paribas Financial Markets increased its holdings in Kenon by 150.0% in the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,800 shares during the last quarter. 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.