StockNews.com Lowers Kenon (NYSE:KEN) to Sell

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

Kenon Stock Up 0.2 %

Shares of NYSE:KEN opened at $22.39 on Monday. The firm has a market cap of $1.21 billion, a P/E ratio of -5.07 and a beta of 1.45. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66. Kenon has a 12-month low of $17.64 and a 12-month high of $30.65. The business has a fifty day simple moving average of $24.03 and a 200 day simple moving average of $23.29.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Scarborough Advisors LLC bought a new position in shares of Kenon in the 4th quarter worth about $39,000. Clal Insurance Enterprises Holdings Ltd increased its position in Kenon by 3.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock valued at $57,746,000 after buying an additional 75,892 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Kenon in the 4th quarter valued at about $214,000. Citigroup Inc. increased its position in Kenon by 14.9% in the 3rd quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after buying an additional 12,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Kenon by 143.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock valued at $2,483,000 after buying an additional 63,374 shares in the last quarter. 13.38% of the stock is owned by institutional investors.

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.