Drax Group (LON:DRX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Drax Group plc (LON:DRX) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 593.84 ($7.54) and traded as high as GBX 662 ($8.40). Drax Group shares last traded at GBX 651 ($8.26), with a volume of 771,055 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their target price on Drax Group from GBX 600 ($7.61) to GBX 750 ($9.52) and gave the company a “buy” rating in a research note on Monday, July 29th.

Drax Group Trading Up 0.8 %

The business has a 50 day moving average price of GBX 641.38 and a 200-day moving average price of GBX 593.84. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 63.77. The firm has a market cap of £2.50 billion, a price-to-earnings ratio of 392.17, a price-to-earnings-growth 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.