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

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw unusually-strong 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 Down 6.0 %

The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 10.35 and a beta of 1.33. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The firm’s 50 day simple moving average is $32.13 and its 200-day simple moving average is $29.66.

Institutional Trading of Kenon

A number of hedge funds have recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 4,445 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Kenon by 13.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after purchasing an additional 900 shares in the last quarter. Anfield Capital Management LLC grew its stake in shares of Kenon by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock worth $317,000 after buying an additional 4,669 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Kenon during the 3rd quarter worth $365,000. Finally, Norges Bank acquired a new position in shares of Kenon in the fourth quarter valued at approximately $458,000. Institutional investors and hedge funds 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.