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

Drax Group plc (OTCMKTS:DRXGY) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 339 shares, a decline of 12.2% from the February 12th total of 386 shares. Based on an average daily volume of 854 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 854 shares, the days-to-cover ratio is presently 0.4 days.

Drax Group Stock Performance

Shares of Drax Group stock opened at $23.03 on Tuesday. Drax Group has a 52 week low of $14.24 and a 52 week high of $25.25. The firm’s 50 day moving average is $24.33 and its two-hundred day moving average is $21.16.

Drax Group Company Profile

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.