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Kenon (NYSE:KEN) Trading Down 4.5% - Time to Sell?

Kenon logo with Utilities background

Key Points

  • Kenon Holdings Ltd. experienced a share price drop of 4.5%, closing at $41.73, reflecting a significant decline in trading volume of 73% from the average.
  • The company reported a quarterly earnings per share (EPS) of $0.10 with a notable net margin of 63.80%, highlighting its profitability despite a negative return on equity of 2.32%.
  • Institutional investors have recently shown interest in Kenon, with notable purchases including a new stake by Thrivent Financial for Lutherans valued at $807,000 during the second quarter.
  • MarketBeat previews the top five stocks to own by November 1st.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s share price fell 4.5% during mid-day trading on Wednesday . The company traded as low as $41.90 and last traded at $41.73. 4,922 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 18,455 shares. The stock had previously closed at $43.69.

Kenon Stock Up 0.3%

The company has a market cap of $2.24 billion, a PE ratio of 13.45 and a beta of 1.17. The stock's 50 day moving average price is $45.46 and its 200-day moving average price is $38.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.33 and a current ratio of 4.33.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KEN. Clal Insurance Enterprises Holdings Ltd raised its holdings in Kenon by 9.5% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,046,978 shares of the utilities provider's stock worth $96,048,000 after purchasing an additional 264,000 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Kenon by 327.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider's stock worth $3,920,000 after purchasing an additional 93,896 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Kenon in the 2nd quarter worth $3,467,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Kenon by 10.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider's stock worth $15,580,000 after acquiring an additional 35,533 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Kenon by 1,139.9% in the 4th quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider's stock worth $774,000 after acquiring an additional 20,928 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors.

Kenon Company Profile

(Get Free Report)

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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