Drax Group plc (OTCMKTS:DRXGF – Get Rating) was the recipient of a large increase in short interest during the month of December. As of December 30th, there was short interest totalling 9,800 shares, an increase of 5.4% from the December 15th total of 9,300 shares. Based on an average trading volume of 100 shares, the days-to-cover ratio is currently 98.0 days.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on DRXGF. Morgan Stanley reduced their target price on shares of Drax Group from GBX 1,020 ($12.63) to GBX 850 ($10.52) in a research note on Wednesday, November 23rd. Jefferies Financial Group upgraded shares of Drax Group from a “hold” rating to a “buy” rating in a research report on Monday, October 31st. Barclays raised their target price on shares of Drax Group from GBX 1,000 ($12.38) to GBX 1,100 ($13.62) in a report on Friday, December 23rd. Liberum Capital started coverage on shares of Drax Group in a research note on Thursday, December 8th. They set a “buy” rating for the company. Finally, Credit Suisse Group raised shares of Drax Group from an “underperform” rating to a “neutral” rating in a research note on Thursday, November 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $841.33.
Drax Group Price Performance
DRXGF stock opened at $8.35 on Wednesday. The business has a 50-day simple moving average of $7.80 and a 200 day simple moving average of $7.77. Drax Group has a 52 week low of $5.36 and a 52 week high of $11.10.
About Drax Group
Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. The company operates through three segments: Generation, Customers, and Pellet Production. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.
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