Kenon (NYSE:KEN) Shares Gap Down – What’s Next?

Kenon Holdings Ltd. (NYSE:KEN)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $30.31, but opened at $28.90. Kenon shares last traded at $29.00, with a volume of 9,577 shares changing hands.

Kenon Trading Down 2.6 %

The company has a 50 day moving average of $27.33 and a 200 day moving average of $25.67. The firm has a market cap of $1.52 billion, a P/E ratio of -19.36 and a beta of 1.45. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.08 and a current ratio of 3.08.

Kenon (NYSE:KEN) last issued its quarterly earnings data on Monday, September 9th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter. Kenon had a negative net margin of 10.61% and a negative return on equity of 9.48%. The firm had revenue of $181.00 million during the quarter.

Institutional Trading of Kenon

A number of institutional investors and hedge funds have recently modified their holdings of KEN. BNP Paribas Financial Markets grew its holdings in Kenon by 150.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,800 shares during the last quarter. Barclays PLC boosted its position in shares of Kenon by 4,233.3% in the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after acquiring an additional 4,445 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Kenon in the third quarter worth $365,000. CWA Asset Management Group LLC bought a new position in Kenon during the third quarter worth $504,000. Finally, Assenagon Asset Management S.A. acquired a new position in Kenon during the 2nd quarter valued at $2,317,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.