Kenon Holdings Ltd. (NYSE:KEN) Sees Large Decline in Short Interest

Kenon Holdings Ltd. (NYSE:KEN) was the target of a large decline in short interest in June. As of June 15th, there was short interest totaling 30,949 shares, a decline of 35.0% from the May 31st total of 47,603 shares. Based on an average daily volume of 29,949 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Kenon

A number of large investors have recently bought and sold shares of the company. Blue Trust Inc. acquired a new position in shares of Kenon in the 1st quarter valued at approximately $29,000. Raymond James Financial Inc. bought a new stake in shares of Kenon during the 2nd quarter worth approximately $32,000. Susquehanna Advisors Group Inc. acquired a new stake in shares of Kenon during the 4th quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Kenon by 24.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 610 shares in the last quarter. Finally, PDT Partners LLC bought a new position in Kenon in the fourth quarter valued at approximately $232,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

Kenon Price Performance

Shares of NYSE KEN opened at $68.19 on Friday. The business has a fifty day moving average price of $80.13 and a two-hundred day moving average price of $77.59. The stock has a market capitalization of $3.55 billion, a PE ratio of 65.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.74 and a quick ratio of 3.74. Kenon has a fifty-two week low of $41.50 and a fifty-two week high of $95.93.

Kenon (NYSE:KEN) last released its earnings results on Monday, June 1st. The utilities provider reported $0.49 earnings per share (EPS) for the quarter. Kenon had a return on equity of 3.47% and a net margin of 7.98%.The company had revenue of $317.00 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Kenon from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

About Kenon

Kenon Holdings Ltd. (NYSE: KEN) is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.