Drax Group (LON:DRX) Stock Crosses Above 200-Day Moving Average of $649.14

Drax Group plc (LON:DRXGet Rating)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 649.14 ($8.04) and traded as high as GBX 681 ($8.43). Drax Group shares last traded at GBX 660 ($8.17), with a volume of 859,246 shares traded.

Analyst Ratings Changes

A number of research firms have commented on DRX. Citigroup restated a “neutral” rating and issued a GBX 598 ($7.40) target price on shares of Drax Group in a research report on Friday, November 18th. Royal Bank of Canada dropped their price target on shares of Drax Group from GBX 1,175 ($14.55) to GBX 950 ($11.76) and set an “outperform” rating for the company in a research report on Tuesday, November 15th. Barclays upped their price objective on shares of Drax Group from GBX 820 ($10.15) to GBX 1,000 ($12.38) and gave the stock an “overweight” rating in a report on Monday, November 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Drax Group from GBX 1,010 ($12.50) to GBX 825 ($10.21) and set an “overweight” rating for the company in a report on Thursday, December 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 739.67 ($9.16).

Drax Group Price Performance

The stock has a fifty day moving average of GBX 644.21 and a 200-day moving average of GBX 649.12. The company has a quick ratio of 0.32, a current ratio of 1.00 and a debt-to-equity ratio of 117.43. The stock has a market capitalization of £2.63 billion and a price-to-earnings ratio of 1,294.12.

About Drax Group

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Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. The company operates through three segments: Generation, Customers, and Pellet Production. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.

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