Kenon (NYSE:KEN) Shares Gap Down – Should You Sell?

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.

Kenon Stock Down 4.5 %

The firm has a market cap of $1.75 billion, a PE ratio of 10.15 and a beta of 1.44. 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’s 50-day simple moving average is $29.69 and its two-hundred day simple moving average is $26.91.

Institutional Trading of Kenon

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Kenon in the 3rd quarter worth about $1,136,000. Barclays PLC lifted 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 valued at $127,000 after buying an additional 4,445 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Kenon during the 3rd quarter valued at $365,000. BNP Paribas Financial Markets increased its stake in shares of Kenon by 13.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 900 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in 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 period. Institutional investors 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.