Kenon (NYSE:KEN) Rating Lowered to Sell at StockNews.com

Kenon (NYSE:KEN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Kenon Stock Performance

KEN traded down $0.01 during trading on Monday, reaching $22.24. 8,385 shares of the company were exchanged, compared to its average volume of 21,834. Kenon has a 52 week low of $17.64 and a 52 week high of $30.65. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $24.09 and a 200 day moving average of $23.29. The stock has a market cap of $1.20 billion, a P/E ratio of -5.03 and a beta of 1.45.

Kenon (NYSE:KEN) last released its quarterly earnings results on Tuesday, March 26th. The utilities provider reported $0.11 EPS for the quarter. Kenon had a negative net margin of 34.10% and a negative return on equity of 10.82%. The business had revenue of $151.00 million during the quarter.

Hedge Funds Weigh In On Kenon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Kenon by 143.9% during the third quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock valued at $2,483,000 after purchasing an additional 63,374 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Kenon by 1.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,296,068 shares of the utilities provider’s stock worth $52,838,000 after buying an additional 27,294 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Kenon by 14.9% in the 3rd quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock worth $2,123,000 after acquiring an additional 12,153 shares during the period. Scarborough Advisors LLC bought a new position in shares of Kenon in the fourth quarter valued at approximately $39,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of Kenon during the fourth quarter valued at approximately $214,000. 13.38% of the stock is owned by institutional investors.

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.