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

Drax Group plc (LON:DRX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 746.30 and traded as high as GBX 912.50. Drax Group shares last traded at GBX 905.18, with a volume of 814,792 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DRX shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 950 price objective on shares of Drax Group in a research report on Wednesday, November 5th. Jefferies Financial Group increased their target price on shares of Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Citigroup raised Drax Group to a “buy” rating and raised their price target for the stock from GBX 689 to GBX 850 in a report on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 980.

Drax Group Trading Up 0.5%

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 stock has a 50-day simple moving average of GBX 834.63 and a 200 day simple moving average of GBX 746.30. The company has a market cap of £3.08 billion, a price-to-earnings ratio of 8.40, a PEG 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.