Drax Group (LON:DRX) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Drax Group plc (LON:DRX) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 617.75 ($8.32) and traded as high as GBX 664.50 ($8.95). Drax Group shares last traded at GBX 661.55 ($8.91), with a volume of 1,859,110 shares changing hands.

Drax Group Trading Down 0.2%

The stock has a market capitalization of £2.42 billion, a P/E ratio of 3.92, a P/E/G ratio of 0.10 and a beta of 1.22. The firm’s 50 day simple moving average is GBX 624.07 and its two-hundred day simple moving average is GBX 617.75. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11.

Insider Transactions at Drax Group

In other Drax Group news, insider Will Gardiner sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of GBX 660 ($8.89), for a total value of £990,000 ($1,333,153.78). Company insiders own 0.67% of the company’s stock.

About Drax Group

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.