Short Interest in Kenon Holdings Ltd. (NYSE:KEN) Drops By 14.0%

Kenon Holdings Ltd. (NYSE:KEN) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 19,100 shares, a decline of 14.0% from the July 15th total of 22,200 shares. Based on an average daily trading volume, of 14,300 shares, the short-interest ratio is currently 1.3 days. Currently, 0.1% of the shares of the stock are short sold.

Kenon Price Performance

KEN traded up $0.58 during trading hours on Monday, hitting $25.35. The company’s stock had a trading volume of 9,491 shares, compared to its average volume of 17,998. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -6.00 and a beta of 1.45. The business’s 50-day moving average price is $24.92 and its 200-day moving average price is $24.44. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.74. Kenon has a 12 month low of $17.64 and a 12 month high of $28.99.

Kenon (NYSE:KEN) last posted its earnings results on Monday, June 3rd. The utilities provider reported $0.15 earnings per share for the quarter. The firm had revenue of $174.00 million for the quarter. Kenon had a negative net margin of 30.60% and a negative return on equity of 10.64%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Kenon from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th.

Institutional Investors Weigh In On Kenon

Several large investors have recently added to or reduced their stakes in the stock. Scarborough Advisors LLC purchased a new stake in shares of Kenon in the fourth quarter valued at $39,000. BNP Paribas Financial Markets raised its position in Kenon by 150.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,800 shares during the period. CWA Asset Management Group LLC bought a new stake in Kenon in the fourth quarter worth about $214,000. Assenagon Asset Management S.A. purchased a new position in shares of Kenon during the second quarter valued at approximately $2,317,000. Finally, Y.D. More Investments Ltd bought a new position in shares of Kenon during the second quarter valued at approximately $4,371,000. 13.38% of the stock is owned by 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.