Drax Group (LON:DRX) Shares Cross Above 200 Day Moving Average – What’s Next?

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 731.62 and traded as high as GBX 906. Drax Group shares last traded at GBX 899.66, with a volume of 887,565 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DRX shares. Jefferies Financial Group lifted their price target 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. Citigroup raised shares of Drax Group to a “buy” rating and raised their price objective for the stock from GBX 689 to GBX 850 in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 950 target price on shares of Drax Group in a research note on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Drax Group presently has a consensus rating of “Buy” and an average target price of GBX 980.

Drax Group Stock Down 0.4%

The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The business has a 50-day simple moving average of GBX 800.92 and a two-hundred day simple moving average of GBX 731.62. The stock has a market capitalization of £3.06 billion, a P/E ratio of 8.35, a PEG ratio of 0.10 and a beta of 1.22.

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.