Kenon (NYSE:KEN) Shares Gap Up - Time to Buy?

Key Points

• Kenon Holdings Ltd. shares gapped up from $45.28 to $46.77 before closing at $47.41, with a trading volume of 16,805 shares.
• Wall Street Zen downgraded Kenon from a "hold" to a "sell" rating on May 15th.
• The company reported $0.10 earnings per share for the last quarter, with total revenue of $196 million and a net margin of 79.14%.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $45.28, but opened at $46.77. Kenon shares last traded at $47.41, with a volume of 16,805 shares trading hands.

Analyst Ratings Changes

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

Kenon Stock Down 1.2%

The firm's 50-day moving average price is $44.52 and its 200-day moving average price is $36.73. The company has a debt-to-equity ratio of 0.44, a current ratio of 5.45 and a quick ratio of 5.45. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 14.63 and a beta of 1.18.

Kenon (NYSE:KEN - Get Free Report) last posted its earnings results on Thursday, August 28th. The utilities provider reported $0.10 earnings per share for the quarter. Kenon had a net margin of 79.14% and a negative return on equity of 2.64%. The business had revenue of $196.00 million for the quarter.

Institutional Investors Weigh In On Kenon

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Kenon in the 2nd quarter worth approximately $32,000. Jane Street Group LLC acquired a new position in shares of Kenon during the first quarter worth $254,000. Tidal Investments LLC acquired a new position in shares of Kenon during the second quarter worth $256,000. BNP Paribas Financial Markets boosted its stake in shares of Kenon by 13.8% in the second quarter. BNP Paribas Financial Markets now owns 9,100 shares of the utilities provider's stock valued at $378,000 after purchasing an additional 1,100 shares during the period. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Kenon during the 2nd quarter valued at $502,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

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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