Kenon (NYSE:KEN) Shares Gap Down – Should You Sell?

Kenon Holdings Ltd. (NYSE:KEN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $33.10, but opened at $31.91. Kenon shares last traded at $31.74, with a volume of 5,006 shares changing hands.

Kenon Stock Down 4.2 %

The firm has a market cap of $1.71 billion, a P/E ratio of 9.91 and a beta of 1.41. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average price is $30.88 and its two-hundred day moving average price is $27.72.

Kenon (NYSE:KEN) last announced its earnings results on Thursday, December 5th. The utilities provider reported $0.81 EPS for the quarter. Kenon had a net margin of 22.88% and a return on equity of 2.93%.

Institutional Trading of Kenon

Institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its position in Kenon by 4,233.3% in the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after buying an additional 4,445 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Kenon by 13.4% in the third quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 900 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Kenon in the third quarter worth about $365,000. CWA Asset Management Group LLC bought a new position in shares of Kenon in the third quarter worth about $504,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in shares of Kenon in the fourth quarter worth about $746,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.