Drax Group (LON:DRX) Share Price Passes Above 200 Day Moving Average – What’s Next?

Drax Group plc (LON:DRX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 686.41 and traded as high as GBX 736.56. Drax Group shares last traded at GBX 736.56, with a volume of 1,136,127 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on DRX. Citigroup boosted their target price on Drax Group from GBX 682 to GBX 689 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 950 price objective on shares of Drax Group in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 879.67.

Drax Group Stock Up 2.3%

The company’s 50 day moving average price is GBX 715.25 and its two-hundred day moving average price is GBX 686.41. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The firm has a market cap of £2.53 billion, a PE ratio of 6.84, a PEG ratio of 0.10 and a beta of 1.22.

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.