Drax Group (LON:DRX) Stock Price Passes Above Two Hundred Day Moving Average of $550.80

Drax Group plc (LON:DRX)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 550.80 ($7.28) and traded as high as GBX 625.50 ($8.26). Drax Group shares last traded at GBX 620.50 ($8.20), with a volume of 1,411,103 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Drax Group in a research report on Friday, July 5th. Jefferies Financial Group lifted their price objective on Drax Group from GBX 600 ($7.93) to GBX 750 ($9.91) and gave the company a “buy” rating in a research report on Monday, July 29th.

Drax Group Stock Performance

The company has a market cap of £2.38 billion, a PE ratio of 373.80, a PEG ratio of 0.10 and a beta of 1.22. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 63.77. The business’s 50 day moving average is GBX 629.59 and its two-hundred day moving average is GBX 550.80.

Drax Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 19th will be given a GBX 10.40 ($0.14) dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a dividend yield of 1.84%. Drax Group’s payout ratio is 1,445.78%.

Insider Transactions at Drax Group

In other Drax Group news, insider Rob Shuter bought 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average price of GBX 646 ($8.53) per share, with a total value of £516,800 ($682,694.85). Corporate insiders own 0.67% of the company’s stock.

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.