Drax Group (LON:DRX) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Drax Group plc (LON:DRX - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 631.32 ($8.56) and traded as high as GBX 686.33 ($9.30). Drax Group shares last traded at GBX 682.65 ($9.25), with a volume of 502,532 shares.

Analysts Set New Price Targets

Several research firms recently issued reports on DRX. JPMorgan Chase & Co. began coverage on shares of Drax Group in a report on Friday, July 4th. They issued an "overweight" rating and a GBX 1,000 ($13.55) target price on the stock. Citigroup boosted their target price on shares of Drax Group from GBX 682 ($9.24) to GBX 689 ($9.34) and gave the company a "neutral" rating in a research note on Wednesday, August 6th.

Drax Group Price Performance

The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The company has a market capitalization of £2.56 billion, a P/E ratio of 4.14, a P/E/G ratio of 0.10 and a beta of 1.22. The business's fifty day moving average price is GBX 683.40 and its 200-day moving average price is GBX 632.70.

Drax Group (LON:DRX - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported GBX 65.60 ($0.89) EPS for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. As a group, sell-side analysts predict that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

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 shares were sold at an average price of GBX 660 ($8.95), for a total value of £990,000 ($1,341,827.05). 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.