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

Kenon Holdings Ltd. (NYSE:KEN)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $34.00, but opened at $32.41. Kenon shares last traded at $32.55, with a volume of 9,151 shares trading hands.

Kenon Trading Down 1.5 %

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 9.93 and a beta of 1.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78. The company has a 50 day moving average price of $29.89 and a 200 day moving average price of $26.99.

Hedge Funds Weigh In On Kenon

Several large investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock worth $127,000 after purchasing an additional 4,445 shares during the period. BNP Paribas Financial Markets grew its holdings 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 valued at $212,000 after purchasing an additional 900 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Kenon during the 3rd quarter worth approximately $365,000. CWA Asset Management Group LLC acquired a new stake in Kenon during the 3rd quarter worth approximately $504,000. Finally, JPMorgan Chase & Co. purchased a new position in Kenon in the 3rd quarter valued at approximately $1,136,000. 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.