Drax Group (LON:DRX) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of Drax Group plc (LON:DRX) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 852.28 and traded as low as GBX 737. Drax Group shares last traded at GBX 757, with a volume of 1,441,121 shares traded.

Analyst Ratings Changes

DRX has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a GBX 1,120 price target on shares of Drax Group in a research note on Tuesday, June 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 1,000 price objective on shares of Drax Group in a research note on Wednesday, May 6th. Finally, Citigroup dropped their price objective on shares of Drax Group from GBX 9,230 to GBX 8,160 and set a “neutral” rating on the stock in a report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 2,820.

Drax Group Price Performance

The business has a fifty day moving average price of GBX 829.03 and a two-hundred day moving average price of GBX 852.28. The company has a debt-to-equity ratio of 62.90, a current ratio of 1.07 and a quick ratio of 0.32. The firm has a market capitalization of £2.55 billion, a price-to-earnings ratio of 37.48, a price-to-earnings-growth ratio of 0.10 and a beta of 0.63.

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.