Drax Group (LON:DRX) Stock Passes Above 200-Day Moving Average - Here's What Happened

Drax Group plc (LON:DRX - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 616.55 ($8.36) and traded as high as GBX 670 ($9.08). Drax Group shares last traded at GBX 662.32 ($8.98), with a volume of 1,470,933 shares traded.

Analysts Set New Price Targets

DRX has been the subject of several research analyst reports. Citigroup reiterated a "sell" rating and issued a GBX 529 ($7.17) price objective on shares of Drax Group in a report on Tuesday, February 11th. JPMorgan Chase & Co. lifted their price objective on Drax Group from GBX 850 ($11.52) to GBX 900 ($12.20) and gave the stock an "overweight" rating in a report on Tuesday, February 11th.

Drax Group Trading Up 0.8%

The stock has a fifty day moving average of GBX 600.94 and a 200 day moving average of GBX 616.88. The company has a debt-to-equity ratio of 64.11, a quick ratio of 0.32 and a current ratio of 1.26. The company has a market capitalization of £2.43 billion, a PE ratio of 3.93, a PEG ratio of 0.10 and a beta of 1.22.

Insider Buying and Selling

In other news, insider Will Gardiner sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of GBX 660 ($8.94), for a total transaction of £990,000 ($1,341,645.21). 0.67% of the stock is owned by insiders.

Drax Group Company Profile

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.