Kenon (NYSE:KEN) Shares Gap Down – Time to Sell?

Kenon Holdings Ltd. (NYSE:KEN) gapped down prior to trading on Tuesday . The stock had previously closed at $68.52, but opened at $65.06. Kenon shares last traded at $64.7450, with a volume of 3,667 shares traded.

Analyst Upgrades and Downgrades

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

Kenon Trading Down 5.9%

The business has a 50 day simple moving average of $66.96 and a two-hundred day simple moving average of $77.09. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 62.00 and a beta of 1.12. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.64.

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

Institutional Trading of Kenon

Several institutional investors have recently added to or reduced their stakes in KEN. Goldman Sachs Group Inc. raised its stake in Kenon by 327.2% during the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock worth $3,920,000 after acquiring an additional 93,896 shares during the period. Jane Street Group LLC acquired a new stake in shares of Kenon during the 1st quarter worth approximately $254,000. Norges Bank bought a new stake in shares of Kenon in the 2nd quarter worth approximately $566,000. Invesco Ltd. lifted its holdings in shares of Kenon by 29.0% in the 2nd quarter. Invesco Ltd. now owns 29,587 shares of the utilities provider’s stock worth $1,229,000 after purchasing an additional 6,643 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Kenon by 10.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider’s stock valued at $15,580,000 after purchasing an additional 35,533 shares during the period. Institutional investors own 13.38% of the company’s stock.

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.