Drax Group (LON:DRX) Stock Passes Above Two Hundred Day Moving Average of $289.14

Drax Group Plc (LON:DRX)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $289.14 and traded as high as $293.62. Drax Group shares last traded at $289.40, with a volume of 999,307 shares traded.

Several equities research analysts have recently commented on the company. Jefferies Financial Group reissued a “hold” rating and set a GBX 300 ($3.95) price target (down previously from GBX 400 ($5.26)) on shares of Drax Group in a research note on Thursday, September 19th. Royal Bank of Canada reissued a “top pick” rating and set a GBX 420 ($5.52) price target on shares of Drax Group in a research note on Friday, October 4th. Barclays reissued an “equal weight” rating on shares of Drax Group in a research note on Thursday, November 14th. Finally, HSBC raised Drax Group to a “buy” rating and boosted their price target for the stock from GBX 320 ($4.21) to GBX 360 ($4.74) in a research note on Monday, October 28th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of GBX 338.63 ($4.45).

The company has a 50 day moving average price of GBX 304.04 and a 200 day moving average price of GBX 289.14. The firm has a market cap of $1.16 billion and a PE ratio of 41.34. The company has a current ratio of 1.30, a quick ratio of 0.55 and a debt-to-equity ratio of 64.30.

Drax Group Company Profile (LON:DRX)

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.

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