Kenon Holdings Ltd. (NYSE:KEN) Sees Significant Decrease in Short Interest

Kenon Holdings Ltd. (NYSE:KEN) saw a large drop in short interest in June. As of June 15th, there was short interest totaling 30,949 shares, a drop of 35.0% from the May 31st total of 47,603 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 29,949 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Kenon from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Kenon Stock Up 0.1%

Shares of KEN traded up $0.09 during mid-day trading on Friday, reaching $68.19. The company’s stock had a trading volume of 36,733 shares, compared to its average volume of 31,149. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.74 and a quick ratio of 3.74. Kenon has a 12-month low of $41.50 and a 12-month high of $95.93. The stock has a market cap of $3.55 billion, a PE ratio of 65.56 and a beta of 1.11. The company’s 50 day moving average is $80.39 and its 200 day moving average is $77.66.

Kenon (NYSE:KEN) last posted its earnings results on Monday, June 1st. The utilities provider reported $0.49 earnings per share for the quarter. The firm had revenue of $317.00 million during the quarter. Kenon had a return on equity of 3.47% and a net margin of 7.98%.

Institutional Investors Weigh In On Kenon

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its holdings in shares of Kenon by 4.8% in the 4th quarter. Wells Fargo & Company MN now owns 7,647 shares of the utilities provider’s stock valued at $507,000 after acquiring an additional 350 shares during the period. Blue Trust Inc. acquired a new stake in Kenon during the 1st quarter worth $29,000. Bank of America Corp DE boosted its stake in Kenon by 9.5% during the 1st quarter. Bank of America Corp DE now owns 5,383 shares of the utilities provider’s stock worth $443,000 after purchasing an additional 467 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Kenon by 24.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after purchasing an additional 610 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Kenon in the second quarter valued at $32,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

About Kenon

Kenon Holdings Ltd. (NYSE: KEN) is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.