Drax Group (LON:DRX) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Drax Group plc (LON:DRX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 810.89 and traded as high as GBX 814. Drax Group shares last traded at GBX 802.23, with a volume of 1,610,598 shares.

Wall Street Analyst Weigh In

DRX has been the topic of several analyst reports. Jefferies Financial Group lowered their price target on shares of Drax Group from GBX 920 to GBX 870 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Citigroup reduced their price objective on shares of Drax Group from GBX 9,230 to GBX 8,160 and set a “neutral” rating for the company in a report on Friday, June 5th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,343.33.

Drax Group Stock Performance

The company has a debt-to-equity ratio of 68.79, a quick ratio of 0.32 and a current ratio of 1.07. The firm has a 50 day moving average price of GBX 759.93 and a two-hundred day moving average price of GBX 810.32. The company has a market capitalization of £2.76 billion, a P/E ratio of 96.41, a price-to-earnings-growth ratio of 0.10 and a beta of 0.62.

Drax Group (LON:DRX) last posted its earnings results on Thursday, July 30th. The company reported GBX 29.80 EPS for the quarter. Drax Group had a return on equity of 1.10% and a net margin of 0.37%. On average, research analysts expect that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

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.