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

Drax Group plc (LON:DRX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 818.42 and traded as high as GBX 876.40. Drax Group shares last traded at GBX 865.40, with a volume of 659,073 shares traded.

Wall Street Analyst Weigh In

DRX has been the topic of several recent analyst reports. Jefferies Financial Group increased their price target on Drax Group from GBX 750 to GBX 1,120 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Citigroup upped their price objective on Drax Group from GBX 850 to GBX 923 and gave the company a “buy” rating in a research report on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of GBX 998.25.

Drax Group Price Performance

The company has a current ratio of 1.07, a quick ratio of 0.32 and a debt-to-equity ratio of 67.01. The firm’s 50-day moving average price is GBX 877.53 and its two-hundred day moving average price is GBX 818.42. The stock has a market cap of £2.91 billion, a PE ratio of 42.84, a PEG ratio of 0.10 and a beta of 0.68.

Drax Group (LON:DRX) last posted its earnings results on Thursday, February 26th. The company reported GBX 137.70 earnings per share for the quarter. Drax Group had a return on equity of 3.94% and a net margin of 1.35%. On average, equities analysts expect that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

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. 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.