Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Drax Group (LON:DRX - Get Free Report) in a note issued to investors on Friday, Marketbeat reports. The firm set an "overweight" rating and a GBX 1,000 ($13.65) price target on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 46.72% from the company's previous close.
Drax Group Stock Up 0.8%
Shares of DRX stock traded up GBX 5.09 ($0.07) during trading hours on Friday, reaching GBX 681.59 ($9.30). 1,058,522 shares of the stock were exchanged, compared to its average volume of 2,289,335. The business's fifty day moving average is GBX 645.36 and its two-hundred day moving average is GBX 619.84. The firm has a market capitalization of £2.50 billion, a P/E ratio of 4.04, a P/E/G ratio of 0.10 and a beta of 1.22. Drax Group has a 12-month low of GBX 522.10 ($7.13) and a 12-month high of GBX 700 ($9.55). The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32.
Insider Activity at Drax Group
In other news, insider Will Gardiner sold 150,000 shares of Drax Group stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of GBX 660 ($9.01), for a total transaction of £990,000 ($1,351,166.92). Corporate insiders own 0.67% of the company's stock.
About Drax Group
(
Get Free Report)
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.
Read More
Before you consider Drax Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Drax Group wasn't on the list.
While Drax Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
