Kenon (NYSE:KEN) Shares Gap Down to $24.62

Kenon Holdings Ltd. (NYSE:KEN) shares gapped down prior to trading on Monday . The stock had previously closed at $24.62, but opened at $24.01. Kenon shares last traded at $24.01, with a volume of 2,710 shares changing hands.

Analysts Set New Price Targets

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

Kenon Trading Up 3.5 %

The business’s 50 day moving average price is $24.99 and its two-hundred day moving average price is $24.44. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -5.93 and a beta of 1.45.

Kenon (NYSE:KEN) last posted its quarterly earnings results on Monday, June 3rd. The utilities provider reported $0.15 earnings per share for the quarter. Kenon had a negative net margin of 30.60% and a negative return on equity of 10.64%. The company had revenue of $174.00 million for the quarter.

Hedge Funds Weigh In On Kenon

Several large investors have recently modified their holdings of KEN. Scarborough Advisors LLC bought a new position in shares of Kenon during the fourth quarter worth about $39,000. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 1,800 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Kenon during the fourth quarter worth $214,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Kenon by 3.3% during the fourth 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 period. Finally, Assenagon Asset Management S.A. bought a new position in Kenon during the second quarter worth $2,317,000. 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.