Kenon (NYSE:KEN) Shares Gap Down – Time to Sell?

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

The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -20.24 and a beta of 1.45. The stock has a 50-day moving average price of $27.25 and a two-hundred day moving average price of $25.64.

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

Institutional Trading of Kenon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KEN. BNP Paribas Financial Markets raised its stake in shares of Kenon by 150.0% in the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,800 shares during the last quarter. Barclays PLC increased its holdings in Kenon by 4,233.3% in the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock worth $127,000 after buying an additional 4,445 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Kenon during the 3rd quarter worth approximately $365,000. CWA Asset Management Group LLC acquired a new stake in Kenon during the 3rd quarter valued at approximately $504,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Kenon in the 2nd quarter valued at $2,317,000. 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.