Kenon (NYSE:KEN) Shares Gap Down - Here's What Happened

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $33.10, but opened at $31.91. Kenon shares last traded at $31.74, with a volume of 5,006 shares.

Kenon Stock Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78. The company has a 50 day simple moving average of $30.99 and a 200-day simple moving average of $27.79. The firm has a market cap of $1.72 billion, a PE ratio of 9.97 and a beta of 1.41.

Kenon (NYSE:KEN - Get Free Report) last posted its quarterly earnings results on Thursday, December 5th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. Kenon had a net margin of 22.88% and a return on equity of 2.93%.

Institutional Investors Weigh In On Kenon

Several institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its stake in Kenon by 4,233.3% in the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider's stock worth $127,000 after buying an additional 4,445 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Kenon by 13.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider's stock valued at $212,000 after purchasing an additional 900 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Kenon during the third quarter valued at approximately $365,000. CWA Asset Management Group LLC purchased a new stake in Kenon in the third quarter worth $504,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in Kenon in the fourth quarter worth $746,000. Hedge funds and other institutional investors own 13.38% of the company's stock.

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.