Kenon Holdings Ltd. (NYSE:KEN) Short Interest Down 42.5% in August

Key Points

• Short interest in Kenon Holdings Ltd. decreased by 42.5% in August, totaling 24,100 shares, compared to 41,900 shares at the end of July.
• Several hedge funds increased their stakes in Kenon, with notable new positions from Vanguard Personalized Indexing Management LLC and Tidal Investments LLC.
• Kenon reported $0.10 earnings per share for the most recent quarter and had a revenue of $196 million, however, Wall Street analysts have recently downgraded the stock from a "hold" to a "sell" rating.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totaling 24,100 shares, adecreaseof42.5% from the July 31st total of 41,900 shares. Based on an average daily trading volume, of 19,500 shares, the days-to-cover ratio is presently 1.2 days. Approximately0.2% of the shares of the company are short sold. Approximately0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 19,500 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Kenon

Several hedge funds have recently made changes to their positions in KEN. Raymond James Financial Inc. acquired a new stake in Kenon during the second quarter valued at approximately $32,000. Jane Street Group LLC bought a new position in shares of Kenon in the first quarter valued at $254,000. Tidal Investments LLC acquired a new stake in shares of Kenon during the 2nd quarter valued at $256,000. BNP Paribas Financial Markets boosted its stake in shares of Kenon by 13.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,100 shares of the utilities provider's stock worth $378,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Kenon in the 2nd quarter worth $502,000. Institutional investors and hedge funds own 13.38% of the company's stock.

Kenon Price Performance

NYSE KEN traded up $0.44 on Friday, reaching $44.65. 8,650 shares of the stock traded hands, compared to its average volume of 10,128. Kenon has a 12 month low of $24.27 and a 12 month high of $49.99. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 13.95 and a beta of 1.17. The firm's fifty day simple moving average is $45.28 and its 200 day simple moving average is $37.25. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.50.

Kenon (NYSE:KEN - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The utilities provider reported $0.10 earnings per share for the quarter. The business had revenue of $196.00 million during the quarter. Kenon had a negative return on equity of 2.32% and a net margin of 63.80%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Kenon from a "hold" rating to a "sell" rating in a research report on Thursday, May 15th.

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.

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