Drax Group plc (OTCMKTS:DRXGF) Stock Short Interest Declines 92.4%

Drax Group plc (OTCMKTS:DRXGF) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 49,271 shares, a drop of 92.4% from the August 31st total of 644,525 shares. Based on an average trading volume of 9 shares, the days-to-cover ratio is presently 5,474.6 days.

Drax Group Price Performance

OTCMKTS:DRXGF remained flat at $9.78 during trading hours on Thursday. Drax Group has a 1-year low of $8.57 and a 1-year high of $12.75. The company’s fifty day simple moving average is $9.78 and its 200 day simple moving average is $10.38.

About Drax Group

Drax Group is a UK-based energy company primarily engaged in the generation of low-carbon electricity and the production of sustainable biomass. The company’s flagship facility, Drax Power Station in North Yorkshire, is the largest single-site generator of renewable electricity in the United Kingdom. Over recent years, Drax has transitioned from coal to sustainably sourced wood pellets, positioning itself as a leader in the move toward carbon-neutral power generation. In addition to electricity generation, Drax Group operates a supply business serving industrial and commercial customers across the UK, providing tailored energy solutions with an emphasis on flexibility and carbon reduction.

Founded with the commissioning of Drax Power Station in the mid-1970s, the business was privatized following the UK electricity market reforms of the early 1990s and later listed on the London Stock Exchange in 2005.