Drax Group (LON:DRX) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Drax Group plc (LON:DRX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 641.03 ($8.13) and traded as high as GBX 647 ($8.21). Drax Group shares last traded at GBX 641.50 ($8.14), with a volume of 1,357,985 shares changing hands.

Wall Street Analyst Weigh In

DRX has been the subject of several recent research reports. Citigroup reiterated a “sell” rating and set a GBX 529 ($6.71) target price on shares of Drax Group in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their target price on shares of Drax Group from GBX 850 ($10.78) to GBX 900 ($11.41) and gave the company an “overweight” rating in a report on Tuesday, February 11th.

Drax Group Stock Down 1.2 %

The company has a market cap of £2.33 billion, a P/E ratio of 3.76, a P/E/G ratio of 0.10 and a beta of 1.22. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. The company’s 50-day moving average is GBX 631.02 and its two-hundred day moving average is GBX 641.03.

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.