Kenon (NYSE:KEN) Sees Large Volume Increase - Time to Buy?

Key Points

• Kenon Holdings Ltd. shares experienced a significant volume change, with 8,929 shares traded on Friday, a 7% decrease from the previous day.
• Wall Street analysts have downgraded Kenon's stock rating from "hold" to "sell."
• The company's recent quarterly earnings showed a revenue of $196 million and a net margin of 63.80%, though it had a negative return on equity of 2.32%.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) shares saw strong trading volume on Friday . 8,929 shares changed hands during trading, a decline of 7% from the previous session's volume of 9,622 shares.The stock last traded at $46.77 and had previously closed at $46.69.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Kenon from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th.

Kenon Stock Performance

The stock's 50 day moving average price is $45.57 and its 200 day moving average price is $37.62. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.50. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 14.62 and a beta of 1.17.

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

Institutional Trading of Kenon

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in Kenon during the 2nd quarter worth approximately $32,000. Tidal Investments LLC acquired a new stake in Kenon during the 2nd quarter worth approximately $256,000. Jane Street Group LLC acquired a new stake in Kenon during the 1st quarter worth approximately $254,000. BNP Paribas Financial Markets increased its position in 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 purchasing an additional 1,100 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Kenon during the 2nd quarter worth approximately $502,000. Institutional investors and hedge funds own 13.38% of the company's stock.

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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