Kenon (NYSE:KEN) Sees Large Volume Increase – Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN) saw unusually-high trading volume on Monday . Approximately 8,342 shares changed hands during trading, a decline of 20% from the previous session’s volume of 10,415 shares.The stock last traded at $34.60 and had previously closed at $34.18.

Kenon Stock Up 1.2 %

The company’s fifty day moving average price is $32.02 and its 200-day moving average price is $29.53. The stock has a market capitalization of $1.86 billion, a PE ratio of 10.81 and a beta of 1.33. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64.

Hedge Funds Weigh In On Kenon

Several large investors have recently made changes to their positions in KEN. JPMorgan Chase & Co. purchased a new position in Kenon in the 3rd quarter worth approximately $1,136,000. Barclays PLC raised 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 worth $127,000 after acquiring an additional 4,445 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in 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 during the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in Kenon in the 4th quarter worth approximately $746,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Kenon by 3.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock worth $92,868,000 after acquiring an additional 88,762 shares during the last quarter. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

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.