Kenon (NYSE:KEN) Shares Gap Up – Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN) gapped up before the market opened on Monday . The stock had previously closed at $41.93, but opened at $43.90. Kenon shares last traded at $44.35, with a volume of 7,651 shares traded.

Kenon Stock Up 6.1%

The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 13.90 and a beta of 1.17. The business’s 50 day moving average price is $45.10 and its 200 day moving average price is $38.55. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.33 and a current ratio of 4.33.

Kenon (NYSE:KEN) last issued its quarterly earnings data on Thursday, August 28th. The utilities provider reported $0.10 EPS for the quarter. The business had revenue of $196.00 million for the quarter. Kenon had a net margin of 63.80% and a negative return on equity of 2.32%.

Institutional Investors Weigh In On Kenon

A number of hedge funds and other institutional investors have recently made changes to their positions in KEN. Bank of America Corp DE lifted its position in shares of Kenon by 1,139.9% during the 4th quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider’s stock valued at $774,000 after buying an additional 20,928 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Kenon by 34.4% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 29,471 shares of the utilities provider’s stock valued at $942,000 after buying an additional 7,538 shares in the last quarter. CWA Asset Management Group LLC lifted its position in shares of Kenon by 31.2% during the 1st quarter. CWA Asset Management Group LLC now owns 29,727 shares of the utilities provider’s stock valued at $951,000 after buying an additional 7,061 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Kenon by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 763,908 shares of the utilities provider’s stock valued at $24,217,000 after buying an additional 4,176 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Kenon by 23.0% during the 1st quarter. Invesco Ltd. now owns 22,944 shares of the utilities provider’s stock valued at $734,000 after buying an additional 4,293 shares in the last quarter. Institutional investors and hedge funds own 13.38% of the company’s stock.

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.