Drax Group (LON:DRX) Shares Cross Above 200 Day Moving Average – What’s Next?

Drax Group plc (LON:DRX)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 762.82 and traded as high as GBX 907.50. Drax Group shares last traded at GBX 868.05, with a volume of 349,006,469 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 950 price target on shares of Drax Group in a research report on Wednesday, November 5th. Citigroup lifted their target price on shares of Drax Group from GBX 850 to GBX 923 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Jefferies Financial Group boosted their price target on Drax Group from GBX 750 to GBX 1,120 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of GBX 998.25.

Drax Group Trading Up 0.5%

The firm’s 50 day moving average price is GBX 868.42 and its 200-day moving average price is GBX 762.82. 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 stock has a market cap of £2.94 billion, a P/E ratio of 8.06, a P/E/G ratio of 0.10 and a beta of 1.22.

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. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.