Drax Group (LON:DRX) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Drax Group plc's stock has recently crossed above its 200-day moving average, reaching a high of GBX 696.50 ($9.47) during trading.
• Wall Street analysts have given Drax Group a consensus rating of "Moderate Buy" with an average price target of GBX 844.50, indicating potential for further growth.
• The company reported a quarterly earnings per share of GBX 65.60 and anticipates a fiscal year EPS of approximately 97.47, reflecting strong performance metrics.

Drax Group plc (LON:DRX - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 638.69 ($8.61) and traded as high as GBX 696.50 ($9.38). Drax Group shares last traded at GBX 691.26 ($9.31), with a volume of 1,568,096 shares.

Wall Street Analyst Weigh In

DRX has been the subject of several research analyst reports. Citigroup upped their price target on shares of Drax Group from GBX 682 to GBX 689 and gave the company a "neutral" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. initiated coverage on shares of Drax Group in a report on Friday, July 4th. They issued an "overweight" rating and a GBX 1,000 price target for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of GBX 844.50.

Drax Group Trading Down 0.1%

The stock has a market cap of £2.34 billion, a price-to-earnings ratio of 626.74, a PEG ratio of 0.10 and a beta of 1.22. 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's 50 day simple moving average is GBX 681.48 and its 200 day simple moving average is GBX 640.35.

Drax Group (LON:DRX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported GBX 65.60 EPS for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. On average, research analysts expect that Drax Group plc will post 97.4732006 EPS for the current fiscal year.

About Drax Group

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.