Drax Group (LON:DRX) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Drax Group plc (LON:DRX)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 580.98 ($7.53) and traded as high as GBX 629.50 ($8.16). Drax Group shares last traded at GBX 624 ($8.09), with a volume of 951,142 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DRX shares. Jefferies Financial Group increased their price target on Drax Group from GBX 600 ($7.78) to GBX 750 ($9.73) and gave the stock a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Drax Group in a research note on Friday, July 5th.

Drax Group Trading Up 0.2 %

The company has a market cap of £2.37 billion, a PE ratio of 375.90, a price-to-earnings-growth 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 has a 50 day simple moving average of GBX 642.81 and a two-hundred day simple moving average of GBX 580.98.

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.