Kenon (NYSE:KEN) Sees Large Volume Increase – Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN) saw an uptick in trading volume on Monday . 8,342 shares traded hands during trading, a decline of 20% from the previous session’s volume of 10,415 shares.The stock last traded at $34.60 and had previously closed at $34.18.

Kenon Stock Performance

The firm has a market capitalization of $1.86 billion, a PE ratio of 10.81 and a beta of 1.33. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The business’s 50 day simple moving average is $32.02 and its two-hundred day simple moving average is $29.53.

Institutional Investors Weigh In On Kenon

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Kenon by 11.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock valued at $14,214,000 after buying an additional 43,694 shares during the last quarter. Bank of America Corp DE grew its position in shares of Kenon by 1,139.9% during the 4th quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider’s stock valued at $774,000 after acquiring an additional 20,928 shares during the period. Northern Trust Corp grew its position in shares of Kenon by 104.6% during the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider’s stock valued at $524,000 after acquiring an additional 7,881 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Kenon by 6.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider’s stock valued at $8,972,000 after acquiring an additional 15,677 shares during the period. Finally, Norges Bank bought a new stake in shares of Kenon during the 4th quarter valued at $458,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

About Kenon

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.