Drax Group (LON:DRX) Shares Cross Above 200 Day Moving Average of $493.47

Shares of Drax Group plc (LON:DRX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 493.47 ($6.26) and traded as high as GBX 520.50 ($6.60). Drax Group shares last traded at GBX 511.50 ($6.49), with a volume of 447,699 shares traded.

Wall Street Analysts Forecast Growth

Separately, Citigroup reissued a “sell” rating and set a GBX 434 ($5.51) price objective on shares of Drax Group in a research report on Wednesday, April 3rd.

Drax Group Trading Down 0.3 %

The firm has a market cap of £1.97 billion, a P/E ratio of 367.99, a P/E/G ratio of 0.10 and a beta of 1.15. The business’s 50-day moving average is GBX 518.59 and its two-hundred day moving average is GBX 493.47. The company has a debt-to-equity ratio of 78.72, a current ratio of 1.12 and a quick ratio of 0.32.

Insider Activity at Drax Group

In other Drax Group news, insider Andy Skelton sold 15,869 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of GBX 489 ($6.20), for a total value of £77,599.41 ($98,438.93). 0.67% of the stock is owned by insiders.

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.