Kenon (NYSE:KEN) Sees Unusually-High Trading Volume – Here’s Why

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw unusually-strong trading volume on Friday . Approximately 17,639 shares traded hands during trading, a decline of 0% from the previous session’s volume of 17,660 shares.The stock last traded at $31.82 and had previously closed at $32.24.

Kenon Price Performance

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWA Asset Management Group LLC bought a new stake in shares of Kenon during the third quarter valued at approximately $504,000. BNP Paribas Financial Markets boosted its holdings in shares of Kenon by 13.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after buying an additional 900 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of Kenon in the 2nd quarter worth about $4,371,000. Public Employees Retirement System of Ohio bought a new position in shares of Kenon in the 3rd quarter worth about $365,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in Kenon by 3.7% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,694,216 shares of the utilities provider’s stock valued at $76,251,000 after acquiring an additional 97,256 shares during the period. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About Kenon

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.