Drax Group plc (LON:DRX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 623.78 ($8.43) and traded as high as GBX 696 ($9.40). Drax Group shares last traded at GBX 691.11 ($9.34), with a volume of 524,723 shares changing hands.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. assumed coverage on shares of Drax Group in a research report on Friday, July 4th. They issued an "overweight" rating and a GBX 1,000 ($13.51) price objective for the company.
View Our Latest Research Report on Drax Group
Drax Group Trading Down 0.2%
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 business has a fifty day simple moving average of GBX 668.63 and a 200 day simple moving average of GBX 625.04. The company has a market cap of £2.49 billion, a price-to-earnings ratio of 4.03, a P/E/G ratio of 0.10 and a beta of 1.22.
Insider Activity at Drax Group
In other news, insider Will Gardiner sold 150,000 shares of Drax Group stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of GBX 660 ($8.92), for a total transaction of £990,000 ($1,337,295.69). 0.67% of the stock is 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.
Further Reading
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
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
