Kenon (NYSE:KEN) Sees Large Volume Increase – What’s Next?

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw unusually-high trading volume on Friday . Approximately 17,639 shares were traded during mid-day trading, a decline of 0% from the previous session’s volume of 17,660 shares.The stock last traded at $31.82 and had previously closed at $32.24.

Kenon Stock Down 2.6 %

The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 9.81 and a beta of 1.44. The business has a fifty day moving average of $29.79 and a 200 day moving average of $26.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Y.D. More Investments Ltd bought a new stake in Kenon in the second quarter worth $4,371,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Kenon by 3.7% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,694,216 shares of the utilities provider’s stock worth $76,251,000 after purchasing an additional 97,256 shares during the period. JPMorgan Chase & Co. acquired a new position in Kenon during the third quarter valued at approximately $1,136,000. CWA Asset Management Group LLC bought a new position in shares of Kenon in the third quarter valued at approximately $504,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Kenon in the third quarter worth $365,000. Institutional investors and hedge funds own 13.38% 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.