Kenon (NYSE:KEN) Shares Gap Down – Time to Sell?

Shares of Kenon Holdings Ltd. (NYSE:KEN) 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 traded.

Analysts Set New Price Targets

Separately, Weiss Ratings cut 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 MarketBeat.com, Kenon currently has an average rating of “Hold”.

Kenon Price Performance

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 business’s 50 day moving average price is $66.89 and its two-hundred day moving average price is $76.91. The stock has a market cap of $3.42 billion, a P/E ratio of 63.19 and a beta of 1.09.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new stake in shares of Kenon during the 1st quarter valued at $29,000. Raymond James Financial Inc. bought a new position in shares of Kenon in the 2nd quarter worth about $32,000. Susquehanna Advisors Group Inc. purchased a new position in Kenon during the 4th quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Kenon by 24.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 610 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in Kenon during the fourth quarter worth about $232,000. Institutional investors own 13.38% of the company’s stock.

Kenon Company Profile

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.