Kenon (NYSE:KEN) Shares Gap Down - Should You Sell?

Key Points

• Kenon shares fell sharply: The stock opened at $65.06 versus a prior close of $68.52 and was last trading around $64.75, down approximately 5.9%.
• Analysts remain cautious: Weiss Ratings downgraded Kenon’s rating from “hold (c+)” to “hold (c),” while the broader analyst consensus remains “Hold.”
• Recent financial and ownership data: Kenon reported quarterly earnings of $0.49 per share on $317 million in revenue, while institutional investors and hedge funds own 13.38% of the company.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $68.52, but opened at $65.06. Kenon shares last traded at $64.7450, with a volume of 3,667 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Kenon from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Kenon presently has a consensus rating of "Hold".

Kenon Trading Down 5.9%

The business has a 50 day simple moving average of $66.96 and a two-hundred day simple moving average of $77.09. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.64. The company has a market cap of $3.36 billion, a PE ratio of 62.00 and a beta of 1.12.

Kenon (NYSE:KEN - Get Free Report) last released its earnings results on Monday, June 1st. The utilities provider reported $0.49 earnings per share for the quarter. The firm had revenue of $317.00 million for the quarter. Kenon had a return on equity of 3.47% and a net margin of 7.98%.

Hedge Funds Weigh In On Kenon

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. acquired a new stake in shares of Kenon during the 1st quarter worth $29,000. Raymond James Financial Inc. acquired a new stake in Kenon during the 2nd quarter worth approximately $32,000. Susquehanna Advisors Group Inc. acquired a new stake in Kenon during the 4th quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kenon by 24.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider's stock valued at $206,000 after buying an additional 610 shares during the period. Finally, PDT Partners LLC acquired a new position in Kenon during the fourth quarter valued at approximately $232,000. Institutional investors and hedge funds own 13.38% of the company's stock.

About Kenon

Kenon Holdings Ltd. NYSE: KEN is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.

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