Kenon (NYSE:KEN) Sees Strong Trading Volume – Here’s Why

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw strong trading volume on Thursday . 8,312 shares changed hands during mid-day trading, a decline of 46% from the previous session’s volume of 15,379 shares.The stock last traded at $28.03 and had previously closed at $29.00.

Kenon Stock Performance

The stock has a market capitalization of $1.53 billion, a PE ratio of -19.63 and a beta of 1.45. The business’s 50 day moving average is $27.38 and its 200 day moving average is $25.69. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.69.

Kenon (NYSE:KEN) last announced its earnings results on Monday, September 9th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter. Kenon had a negative return on equity of 9.48% and a negative net margin of 10.61%. The business had revenue of $181.00 million during the quarter.

Hedge Funds Weigh In On Kenon

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its stake in shares of Kenon by 150.0% during the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,800 shares during the period. Barclays PLC increased its stake in Kenon by 4,233.3% in the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock worth $127,000 after buying an additional 4,445 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Kenon during the 3rd quarter valued at about $365,000. CWA Asset Management Group LLC purchased a new stake in Kenon in the 3rd quarter valued at about $504,000. Finally, Assenagon Asset Management S.A. bought a new position in Kenon in the 2nd quarter worth about $2,317,000. Institutional investors own 13.38% of the company’s stock.

About Kenon

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.