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

Kenon Holdings Ltd. (NYSE:KEN)’s share price gapped down prior to trading 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 changing hands.

Analyst Upgrades and Downgrades

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

Kenon Stock Down 2.2 %

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KEN. CWA Asset Management Group LLC acquired a new stake in shares of Kenon in the 4th quarter worth $214,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Kenon by 3.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock worth $57,746,000 after buying an additional 75,892 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in shares of Kenon during the 4th quarter valued at approximately $39,000. BNP Paribas Financial Markets lifted 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 acquiring an additional 1,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Kenon during the second quarter worth $2,317,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.