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Drax Group (LON:DRX) Hits New 52-Week High - Time to Buy?

Drax Group logo with Utilities background

Drax Group plc (LON:DRX - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as GBX 711.50 ($9.67) and last traded at GBX 705.26 ($9.59), with a volume of 1369710 shares. The stock had previously closed at GBX 694 ($9.43).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. started coverage on shares of Drax Group in a research note on Friday, July 4th. They set an "overweight" rating and a GBX 1,000 ($13.59) target price on the stock.

Get Our Latest Stock Report on DRX

Drax Group Stock Up 1.6%

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 stock has a market cap of £2.59 billion, a price-to-earnings ratio of 4.18, a PEG ratio of 0.10 and a beta of 1.22. The business's fifty day moving average is GBX 650.68 and its two-hundred day moving average is GBX 621.01.

Insiders Place Their Bets

In related 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 ($8.97), for a total value of £990,000 ($1,345,840.13). 0.67% of the stock is currently owned by company insiders.

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.

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