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
(
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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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