Drax Group (LON:DRX) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Drax Group plc (LON:DRX) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 746.30 and traded as high as GBX 912.50. Drax Group shares last traded at GBX 905.18, with a volume of 814,792 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DRX. Citigroup upgraded shares of Drax Group to a “buy” rating and upped their price target for the stock from GBX 689 to GBX 850 in a report on Wednesday, December 3rd. Jefferies Financial Group upped their target price on shares of Drax Group from GBX 750 to GBX 1,120 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 950 price target on shares of Drax Group in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 980.

Drax Group Trading Up 0.5%

The company has a debt-to-equity ratio of 64.11, a quick ratio of 0.32 and a current ratio of 1.26. The company has a market capitalization of £3.08 billion, a P/E ratio of 8.40, a PEG ratio of 0.10 and a beta of 1.22. The company’s fifty day simple moving average is GBX 834.63 and its 200-day simple moving average is GBX 746.30.

Drax Group Company Profile

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. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.