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

Kenon Holdings Ltd. (NYSE:KEN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $33.10, but opened at $31.91. Kenon shares last traded at $31.74, with a volume of 5,006 shares traded.

Kenon Price Performance

The company has a market capitalization of $1.72 billion, a P/E ratio of 9.97 and a beta of 1.41. The stock’s fifty day simple moving average is $30.99 and its 200-day simple moving average is $27.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78.

Kenon (NYSE:KEN) last announced its earnings results on Thursday, December 5th. The utilities provider reported $0.81 earnings per share for the quarter. Kenon had a return on equity of 2.93% and a net margin of 22.88%.

Institutional Investors Weigh In On Kenon

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in Kenon by 4,233.3% in the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 4,445 shares during the period. BNP Paribas Financial Markets raised its position in shares of Kenon by 13.4% during the third quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after buying an additional 900 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Kenon during the third quarter valued at about $365,000. CWA Asset Management Group LLC bought a new stake in shares of Kenon in the third quarter valued at about $504,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in Kenon during the fourth quarter worth about $746,000. 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.