Drax Group (LON:DRX) Shares Pass Above 200-Day Moving Average - Time to Sell?

Shares of Drax Group plc (LON:DRX - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 617.75 ($8.31) and traded as high as GBX 664.50 ($8.94). Drax Group shares last traded at GBX 661.55 ($8.90), with a volume of 1,859,110 shares trading hands.

Drax Group Stock Up 0.8%

The firm's 50 day moving average is GBX 626.41 and its two-hundred day moving average is GBX 617.81. The stock has a market cap of £2.45 billion, a price-to-earnings ratio of 3.96, a P/E/G ratio of 0.10 and a beta of 1.22. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11.

Insider Activity

In other news, insider Will Gardiner sold 150,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of GBX 660 ($8.88), for a total transaction of £990,000 ($1,331,360.95). Corporate insiders own 0.67% of the company's stock.

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.