Kenon (NYSE:KEN) Downgraded by StockNews.com to “Sell”

Kenon (NYSE:KEN) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Kenon Stock Performance

NYSE:KEN traded down $1.86 on Friday, reaching $30.63. 37,319 shares of the company’s stock were exchanged, compared to its average volume of 13,170. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 9.57 and a beta of 1.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78. The stock has a fifty day simple moving average of $32.04 and a 200-day simple moving average of $30.22. Kenon has a 52 week low of $19.63 and a 52 week high of $35.33.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Kenon by 11.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock worth $14,214,000 after acquiring an additional 43,694 shares during the period. Bank of America Corp DE lifted its holdings in Kenon by 1,139.9% during the 4th quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider’s stock worth $774,000 after purchasing an additional 20,928 shares in the last quarter. Northern Trust Corp boosted its stake in Kenon by 104.6% in the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 7,881 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Kenon by 6.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider’s stock valued at $8,972,000 after buying an additional 15,677 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Kenon during the fourth quarter valued at about $458,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

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.