Kenon (NYSE:KEN) Cut 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 research report issued on Thursday.

Kenon Price Performance

Shares of Kenon stock opened at $20.79 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.05 and a quick ratio of 3.05. Kenon has a fifty-two week low of $17.64 and a fifty-two week high of $30.65. The firm has a fifty day moving average price of $24.55 and a two-hundred day moving average price of $23.31. The company has a market cap of $1.12 billion, a PE ratio of -4.70 and a beta of 1.45.

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

Hedge Funds Weigh In On Kenon

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its stake in shares of Kenon by 1,100.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,200 shares of the utilities provider’s stock valued at $29,000 after buying an additional 1,100 shares in the last quarter. Scarborough Advisors LLC bought a new stake in Kenon during the 4th quarter worth about $39,000. Quantbot Technologies LP bought a new stake in Kenon during the 2nd quarter worth about $48,000. Barclays PLC bought a new stake in Kenon during the 2nd quarter worth about $90,000. Finally, State of Wyoming grew its holdings in Kenon by 276.2% during the 4th quarter. State of Wyoming now owns 4,578 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 3,361 shares during the last quarter. Institutional investors and hedge funds 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.