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

Kenon Holdings Ltd. (NYSE:KEN) shares 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 Stock Performance

The company has a market cap of $1.78 billion, a PE ratio of 10.35 and a beta of 1.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78. The firm’s 50 day moving average is $32.09 and its 200-day moving average is $29.60.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Kenon by 4,233.3% during the 3rd 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. BNP Paribas Financial Markets grew its holdings in Kenon by 13.4% during 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 in the last quarter. Anfield Capital Management LLC raised its stake in Kenon by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock valued at $317,000 after buying an additional 4,669 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kenon during the 3rd quarter worth about $365,000. Finally, Norges Bank acquired a new position in Kenon in the fourth quarter valued at approximately $458,000. 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.