Kenon (NYSE:KEN) Shares Down 5.5% – Time to Sell?

Kenon Holdings Ltd. (NYSE:KEN – Get Free Report) shares traded down 5.5% during mid-day trading on Wednesday. The company traded as low as $61.18 and last traded at $61.60. 3,605 shares were traded during mid-day trading, a decline of 83% from the average session volume of 21,838 shares. The stock had previously closed at $65.17.

Analyst Ratings Changes

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

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Kenon Trading Down 6.8%

The stock has a market cap of $3.16 billion, a PE ratio of 33.97 and a beta of 1.09. The company’s 50-day moving average price is $66.26 and its 200 day moving average price is $74.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.22 and a current ratio of 3.22.

Kenon (NYSE:KEN – Get Free Report) last issued its quarterly earnings data on Tuesday, September 8th. The utilities provider reported $0.85 earnings per share for the quarter. The company had revenue of $379.00 million during the quarter. Kenon had a return on equity of 4.46% and a net margin of 10.03%.

Hedge Funds Weigh In On Kenon

A number of hedge funds have recently modified their holdings of KEN. Blue Trust Inc. purchased a new stake in shares of Kenon in the 1st quarter valued at approximately $29,000. Bank of America Corp DE raised its position in Kenon by 9.5% in the first quarter. Bank of America Corp DE now owns 5,383 shares of the utilities provider’s stock valued at $443,000 after purchasing an additional 467 shares during the period. Tidal Investments LLC lifted its stake in 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 purchasing an additional 3,274 shares in the last quarter. 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, Public Employees Retirement System of Ohio purchased a new position in shares of Kenon during the second quarter worth $495,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

About Kenon

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Kenon Holdings Ltd. (NYSE: KEN) is a Singapore-based holding company focused on building and managing businesses in the energy and infrastructure sectors. Through its investments, the company seeks to develop businesses with growth potential and long-term operating value.

Kenon’s principal investment is OPC Energy Ltd., an electricity-generation company serving the Israeli market. OPC develops, owns and operates power-generation facilities and supplies electricity to commercial and industrial customers.

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