Drax Group (LON:DRX) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Drax Group plc (LON:DRX) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 731.62 and traded as high as GBX 906. Drax Group shares last traded at GBX 899.66, with a volume of 887,565 shares traded.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and set a GBX 950 price target on shares of Drax Group in a research note on Wednesday, November 5th. Citigroup upgraded shares of Drax Group to a “buy” rating and upped their target price for the stock from GBX 689 to GBX 850 in a research note on Wednesday, December 3rd. Finally, Jefferies Financial Group lifted their price target on shares of Drax Group from GBX 750 to GBX 1,120 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Drax Group presently has a consensus rating of “Buy” and a consensus price target of GBX 980.

Drax Group Price Performance

The company has a market cap of £3.03 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The company has a fifty day simple moving average of GBX 807.18 and a two-hundred day simple moving average of GBX 734.11.

About Drax Group

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.