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

Kenon Holdings Ltd. (NYSE:KEN)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $35.25, but opened at $33.89. Kenon shares last traded at $33.73, with a volume of 4,235 shares traded.

Kenon Trading Down 0.5 %

The firm has a market cap of $1.77 billion, a P/E ratio of 10.28 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. The firm’s 50-day simple moving average is $32.16 and its 200 day simple moving average is $29.68.

Institutional Trading of Kenon

Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its position in Kenon by 13.4% in the third 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 period. Barclays PLC raised its position in Kenon by 4,233.3% in the third 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 period. CWA Asset Management Group LLC raised its position in Kenon by 25.7% in the fourth quarter. CWA Asset Management Group LLC now owns 22,666 shares of the utilities provider’s stock worth $771,000 after acquiring an additional 4,632 shares during the period. Anfield Capital Management LLC raised its position in Kenon by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 4,669 shares during the period. Finally, Y.D. More Investments Ltd raised its position in Kenon by 2.8% in the fourth quarter. Y.D. More Investments Ltd now owns 206,333 shares of the utilities provider’s stock worth $6,885,000 after acquiring an additional 5,705 shares during the period. Institutional investors 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.