Kenon (NYSE:KEN) Shares Gap Up – Here’s What Happened

Kenon Holdings Ltd. (NYSE:KEN) gapped up prior to trading on Thursday . The stock had previously closed at $60.88, but opened at $62.68. Kenon shares last traded at $61.4290, with a volume of 4,094 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Kenon in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Kenon Stock Down 1.2%

The company has a debt-to-equity ratio of 0.43, a current ratio of 4.66 and a quick ratio of 4.66. The firm’s 50 day moving average price is $54.36 and its two-hundred day moving average price is $46.85. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 79.40 and a beta of 1.20.

Kenon (NYSE:KEN) last posted its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.48 EPS for the quarter. Kenon had a negative return on equity of 2.81% and a net margin of 59.34%.The firm had revenue of $265.00 million during the quarter.

Hedge Funds Weigh In On Kenon

Several institutional investors have recently bought and sold shares of KEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Kenon by 8.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 409,084 shares of the utilities provider’s stock worth $18,365,000 after acquiring an additional 31,353 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Kenon by 7.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 148,723 shares of the utilities provider’s stock worth $6,685,000 after buying an additional 10,496 shares in the last quarter. UBS Group AG increased its holdings in Kenon by 516.0% in the third quarter. UBS Group AG now owns 42,467 shares of the utilities provider’s stock valued at $1,918,000 after buying an additional 35,573 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Kenon by 9.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,000 shares of the utilities provider’s stock worth $452,000 after acquiring an additional 900 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Kenon by 4.0% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,413,666 shares of the utilities provider’s stock worth $153,130,000 after acquiring an additional 132,522 shares during the period. 13.38% of the stock is 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.