Short Interest in Kenon Holdings Ltd (NYSE:KEN) Declines By 15.8%

Kenon Holdings Ltd (NYSE:KEN) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 11,700 shares, a drop of 15.8% from the May 30th total of 13,900 shares. Based on an average trading volume of 2,100 shares, the days-to-cover ratio is presently 5.6 days. Approximately 0.1% of the company’s shares are sold short.

Kenon stock traded down $0.21 during midday trading on Friday, hitting $20.35. 19,705 shares of the stock were exchanged, compared to its average volume of 1,338. The firm has a fifty day moving average price of $20.12. Kenon has a 52 week low of $13.67 and a 52 week high of $21.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.03 and a quick ratio of 3.03.

Kenon (NYSE:KEN) last released its quarterly earnings data on Thursday, May 30th. The utilities provider reported ($0.23) earnings per share for the quarter. Kenon had a negative return on equity of 14.75% and a negative net margin of 34.11%. The firm had revenue of $97.00 million for the quarter.

Several research firms recently weighed in on KEN. TheStreet lowered shares of Viewray from a “c-” rating to a “d” rating in a research note on Friday, May 3rd. ValuEngine raised shares of Vistra Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd.

A hedge fund recently bought a new stake in Kenon stock. Norges Bank acquired a new position in shares of Kenon Holdings Ltd (NYSE:KEN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 175,971 shares of the utilities provider’s stock, valued at approximately $2,639,000. Norges Bank owned about 0.33% of Kenon at the end of the most recent reporting period. 1.63% of the stock is owned by institutional investors and hedge funds.

About Kenon

Kenon Holdings Ltd., through its subsidiaries, owns, develops, and operates power generation facilities in Israel. It operates through OPC, Qoros, and Other segments. The company's power generation plants operate on natural gas and diesel. It also designs, manufactures, sells, and services passenger vehicles, parts, and accessories through a network of independent authorized retail dealers in China.

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