Drax Group plc (OTCMKTS:DRXGY) Sees Significant Decrease in Short Interest

Drax Group plc (OTCMKTS:DRXGY) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 400 shares, a drop of 25.1% from the November 30th total of 534 shares. Based on an average daily trading volume, of 47 shares, the short-interest ratio is currently 8.5 days. Based on an average daily trading volume, of 47 shares, the short-interest ratio is currently 8.5 days.

Drax Group Price Performance

Shares of DRXGY stock traded up $2.94 on Wednesday, hitting $22.89. The stock had a trading volume of 648 shares, compared to its average volume of 1,118. The company’s 50 day moving average price is $19.58 and its 200-day moving average price is $19.10. Drax Group has a 1 year low of $14.24 and a 1 year high of $22.89.

About Drax Group

Drax Group is a leading renewable energy company focused on power generation and sustainable biomass production. Headquartered in Selby, North Yorkshire, England, the company operates Europe’s largest decarbonization project at Drax Power Station, which has transitioned from coal to low-carbon biomass. In addition to its core generation assets, Drax Group provides balancing services and system support to the UK electricity grid, helping to maintain network stability and reliability.

The company’s biomass division includes pellet mills and production facilities across the southeastern United States, where Drax Group manufactures sustainable wood pellets from responsibly managed forests.