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

Kenon Holdings Ltd. (NYSE:KEN)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $34.00, but opened at $32.41. Kenon shares last traded at $32.55, with a volume of 9,151 shares traded.

Kenon Price Performance

The firm has a 50 day moving average of $29.69 and a two-hundred day moving average of $26.91. The company has a market cap of $1.75 billion, a PE ratio of 10.15 and a beta of 1.44. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64.

Hedge Funds Weigh In On Kenon

Several large investors have recently modified their holdings of KEN. Barclays PLC increased its stake 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 purchasing an additional 4,445 shares in the last quarter. BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 900 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Kenon during the 3rd quarter valued at $365,000. CWA Asset Management Group LLC purchased a new position in shares of Kenon in the 3rd quarter worth $504,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Kenon in the third quarter worth $1,136,000. Hedge funds and other 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.