ValuEngine Downgrades Kenon (KEN) to Hold

Kenon (NYSE:KEN) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Kenon (NYSE KEN) traded up $0.51 during trading on Wednesday, reaching $22.30. 1,299 shares of the company were exchanged, compared to its average volume of 1,600. The company has a market capitalization of $1,163.03, a P/E ratio of -14.87 and a beta of 1.18. Kenon has a 1-year low of $9.96 and a 1-year high of $22.49. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 3.37.

An institutional investor recently raised its position in Kenon stock. Vanguard Group Inc. lifted its stake in shares of Kenon Holdings Ltd (NYSE:KEN) by 2.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 276,246 shares of the utilities provider’s stock after buying an additional 7,125 shares during the quarter. Vanguard Group Inc. owned about 0.51% of Kenon worth $3,735,000 as of its most recent SEC filing. 0.97% of the stock is currently owned by hedge funds and other institutional investors.

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About Kenon

Kenon Holdings Ltd is a holding company that operates primarily growth-oriented businesses. The Company’s segments include I.C. Power Asia Development Ltd (IC Power), Qoros Automotive Co, Ltd. (Qoros) and Other. I.C. Power, through its subsidiary companies, is engaged in the production, operation and sale of electricity in the country Israel.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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