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

Kenon Holdings Ltd. (NYSE:KEN) shares gapped down prior to trading on Friday . The stock had previously closed at $74.98, but opened at $71.50. Kenon shares last traded at $72.7950, with a volume of 1,705 shares trading hands.

Analysts Set New Price Targets

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

Kenon Price Performance

The stock has a market cap of $3.85 billion, a P/E ratio of 95.82 and a beta of 1.15. The company’s fifty day simple moving average is $66.77 and its 200-day simple moving average is $54.61. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.43.

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

Institutional Investors Weigh In On Kenon

A number of institutional investors and hedge funds have recently made changes to their positions in KEN. Goldman Sachs Group Inc. grew its holdings in Kenon by 327.2% during the 1st 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 Kenon in the 1st quarter valued at approximately $254,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Kenon during the 2nd quarter worth about $502,000. Y.D. More Investments Ltd boosted its holdings in shares of Kenon by 9.1% in the 2nd quarter. Y.D. More Investments Ltd now owns 217,649 shares of the utilities provider’s stock valued at $8,965,000 after buying an additional 18,177 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in Kenon by 7.7% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,281,144 shares of the utilities provider’s stock worth $135,157,000 after buying an additional 234,166 shares during the last quarter. 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.