Short Interest in Drax Group plc (OTCMKTS:DRXGY) Grows By 43.5%

Drax Group plc (OTCMKTS:DRXGY) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 574 shares, an increase of 43.5% from the December 15th total of 400 shares. Based on an average trading volume of 1,468 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 1,468 shares, the days-to-cover ratio is currently 0.4 days.

Drax Group Stock Performance

Shares of Drax Group stock opened at $25.25 on Monday. The stock’s 50-day simple moving average is $20.99 and its 200-day simple moving average is $19.63. Drax Group has a 52 week low of $14.24 and a 52 week high of $25.25.

Drax Group Company Profile

Drax Group is a leading renewable energy company focused on power generation and sustainable biomass production. Headquartered in Selby, North Yorkshire, England, the company operates Europe’s largest decarbonization project at Drax Power Station, which has transitioned from coal to low-carbon biomass. In addition to its core generation assets, Drax Group provides balancing services and system support to the UK electricity grid, helping to maintain network stability and reliability.

The company’s biomass division includes pellet mills and production facilities across the southeastern United States, where Drax Group manufactures sustainable wood pellets from responsibly managed forests.