Drax Group (LON:DRX) Stock Passes Above Two Hundred Day Moving Average of $0.00

Drax Group Plc (LON:DRX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $279.50. Drax Group shares last traded at $273.60, with a volume of 573,111 shares.

DRX has been the subject of several research reports. Barclays cut Drax Group to an “equal weight” rating in a report on Wednesday, June 19th. Credit Suisse Group raised Drax Group to a “neutral” rating and dropped their price target for the stock from GBX 325 ($4.25) to GBX 295 ($3.85) in a report on Tuesday, July 9th. Deutsche Bank reissued a “hold” rating on shares of Drax Group in a report on Friday, July 26th. Macquarie initiated coverage on Drax Group in a report on Monday, June 17th. They issued a “neutral” rating and a GBX 280 ($3.66) price objective for the company. Finally, Citigroup raised Drax Group to a “neutral” rating and dropped their price objective for the company from GBX 312 ($4.08) to GBX 304 ($3.97) in a report on Friday, July 26th. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 351.13 ($4.59).

The company has a market capitalization of $1.08 billion and a PE ratio of 39.09. The company has a debt-to-equity ratio of 64.30, a current ratio of 1.30 and a quick ratio of 0.55. The business’s fifty day simple moving average is GBX 282.90.

The business also recently disclosed a dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 19th will be issued a GBX 6.40 ($0.08) dividend. The ex-dividend date is Thursday, September 19th. This represents a yield of 2.16%. Drax Group’s dividend payout ratio is presently 2.14%.

In other Drax Group news, insider Andy Skelton purchased 16,250 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were bought at an average price of GBX 298 ($3.89) per share, for a total transaction of £48,425 ($63,275.84). Also, insider John Baxter purchased 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was acquired at an average price of GBX 269 ($3.51) per share, for a total transaction of £18,830 ($24,604.73).

About Drax Group (LON:DRX)

Drax Group plc, together with its subsidiaries, engages in the generation and supply of electricity. The company operates through three segments: Power Generation, Pellet Production, and B2B Energy Supply. It produces low carbon and renewable electricity; and provides system support services to the grid from a portfolio of biomass, hydro, gas, and coal technologies.

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