Kenon (NYSE:KEN) Shares Gap Up – What’s Next?

Shares of 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 traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Kenon in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Kenon Price Performance

The stock has a market cap of $3.21 billion, a P/E ratio of 54.50 and a beta of 1.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.66 and a current ratio of 4.66. The firm has a 50-day moving average price of $53.71 and a 200-day moving average price of $46.55.

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

Institutional Investors Weigh In On Kenon

Several hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Kenon in the second quarter worth about $32,000. BNP Paribas Financial Markets grew its stake in shares of Kenon by 9.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,000 shares of the utilities provider’s stock worth $452,000 after buying an additional 900 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Kenon by 12.2% in the 2nd quarter. Jane Street Group LLC now owns 9,041 shares of the utilities provider’s stock worth $373,000 after buying an additional 984 shares during the last quarter. JPMorgan Chase & Co. increased its position in Kenon by 4.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,012 shares of the utilities provider’s stock valued at $1,265,000 after buying an additional 1,234 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Kenon by 17.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,130 shares of the utilities provider’s stock valued at $638,000 after buying an additional 2,048 shares during the last quarter. 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.