Kenon Holdings Ltd. (NYSE:KEN) Sees Large Drop in Short Interest

Kenon Holdings Ltd. (NYSE:KEN) was the recipient of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 34,534 shares, a decrease of 27.7% from the February 26th total of 47,772 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 23,345 shares, the short-interest ratio is presently 1.5 days.

Hedge Funds Weigh In On Kenon

Hedge funds have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd raised its holdings in Kenon by 1.0% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,449,184 shares of the utilities provider’s stock worth $227,062,000 after acquiring an additional 35,518 shares in the last quarter. Vanguard Group Inc. boosted its position in Kenon by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 756,785 shares of the utilities provider’s stock valued at $49,886,000 after purchasing an additional 6,021 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Kenon by 8.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 409,084 shares of the utilities provider’s stock valued at $18,365,000 after purchasing an additional 31,353 shares in the last quarter. Y.D. More Investments Ltd grew its stake in Kenon by 11.6% in the fourth quarter. Y.D. More Investments Ltd now owns 212,102 shares of the utilities provider’s stock valued at $13,963,000 after purchasing an additional 22,045 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Kenon by 7.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 148,723 shares of the utilities provider’s stock worth $6,685,000 after purchasing an additional 10,496 shares during the last quarter. Institutional investors own 13.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Kenon in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Kenon Stock Down 1.0%

KEN traded down $0.84 during trading hours on Friday, hitting $80.37. 16,529 shares of the company’s stock were exchanged, compared to its average volume of 22,682. Kenon has a 1-year low of $27.10 and a 1-year high of $87.60. The stock’s 50-day moving average is $78.55 and its two-hundred day moving average is $63.52. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 104.37 and a beta of 1.14. The company has a quick ratio of 4.66, a current ratio of 3.10 and a debt-to-equity ratio of 0.66.

Kenon Company Profile

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.