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

Kenon Holdings Ltd. (NYSE:KEN) gapped down prior to trading on Wednesday. The stock had previously closed at $68.50, but opened at $65.82. Kenon shares last traded at $65.7210, with a volume of 2,202 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Kenon in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, Kenon has an average rating of “Hold”.

Kenon Trading Up 4.2%

The business’s 50-day simple moving average is $64.69 and its 200 day simple moving average is $73.83. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.82.

Institutional Investors Weigh In On Kenon

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. purchased a new position in shares of Kenon during the 1st quarter worth $29,000. Bank of America Corp DE lifted its holdings in shares of Kenon by 9.5% in the 1st quarter. Bank of America Corp DE now owns 5,383 shares of the utilities provider’s stock worth $443,000 after acquiring an additional 467 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Kenon in the 2nd quarter valued at approximately $495,000. Engineers Gate Manager LP lifted its stake in Kenon by 71.8% during the second quarter. Engineers Gate Manager LP now owns 8,744 shares of the utilities provider’s stock worth $585,000 after purchasing an additional 3,654 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Kenon by 43.4% during the second quarter. Tidal Investments LLC now owns 10,819 shares of the utilities provider’s stock worth $723,000 after buying an additional 3,274 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

Kenon Company Profile

Kenon Holdings Ltd. is a Singapore-based holding company listed on the New York Stock Exchange under the symbol KEN. The company invests in businesses primarily focused on energy and infrastructure, with the objective of developing and managing operating platforms in markets with long-term growth potential.

Kenon’s principal investment is OPC Energy Ltd., an energy company with operations in Israel and the United States. OPC develops, owns and operates power-generation facilities and supplies electricity and related energy services to commercial, industrial and other customers.