Kenon Holdings Ltd. (NYSE:KEN – Get Free Report) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 26,200 shares, a decline of 18.1% from the June 15th total of 32,000 shares. Based on an average trading volume of 19,100 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.1% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. TheStreet downgraded shares of Kenon from a “b” rating to a “c+” rating in a report on Tuesday, April 18th. StockNews.com downgraded Kenon from a “hold” rating to a “sell” rating in a research report on Friday, May 12th.
Kenon Trading Up 5.5 %
NYSE KEN opened at $25.23 on Wednesday. The business’s fifty day simple moving average is $25.68 and its 200-day simple moving average is $28.19. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52. Kenon has a 52 week low of $22.85 and a 52 week high of $48.20.
Kenon (NYSE:KEN – Get Free Report) last released its quarterly earnings data on Monday, June 5th. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter. The firm had revenue of $147.00 million for the quarter. Kenon had a negative return on equity of 12.90% and a negative net margin of 58.05%.
Institutional Trading of Kenon
Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Kenon by 237.7% in the first quarter. JPMorgan Chase & Co. now owns 58,557 shares of the utilities provider’s stock worth $1,721,000 after acquiring an additional 41,217 shares during the period. BlackRock Inc. grew its holdings in shares of Kenon by 7.3% during the 1st quarter. BlackRock Inc. now owns 85,606 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 5,817 shares during the period. Bank of America Corp DE grew its holdings in shares of Kenon by 432.1% during the 1st quarter. Bank of America Corp DE now owns 75,191 shares of the utilities provider’s stock worth $2,211,000 after purchasing an additional 61,061 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Kenon by 117.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 118,418 shares of the utilities provider’s stock worth $3,467,000 after purchasing an additional 63,882 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Kenon by 10.1% in the 1st quarter. Acadian Asset Management LLC now owns 19,165 shares of the utilities provider’s stock valued at $555,000 after buying an additional 1,754 shares during the period. Hedge funds and other institutional investors own 14.03% 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.