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

Drax Group plc (LON:DRX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 617.03 ($8.21) and traded as high as GBX 620.50 ($8.26). Drax Group shares last traded at GBX 614 ($8.17), with a volume of 671,143 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on DRX shares. JPMorgan Chase & Co. boosted their target price on shares of Drax Group from GBX 850 ($11.31) to GBX 900 ($11.98) and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Citigroup reissued a "sell" rating and set a GBX 529 ($7.04) target price on shares of Drax Group in a research report on Tuesday, February 11th.

Drax Group Stock Up 1.1%

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 stock's 50-day simple moving average is GBX 584.60 and its 200-day simple moving average is GBX 617.03. The firm has a market capitalization of £2.28 billion, a P/E ratio of 3.68, a P/E/G ratio of 0.10 and a beta of 1.22.

Drax Group (LON:DRX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported GBX 128.40 ($1.71) earnings per share (EPS) for the quarter. Drax Group had a net margin of 9.42% and a return on equity of 31.63%. As a group, research analysts predict that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

Drax Group Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, May 16th. Shareholders of record on Thursday, April 24th will be paid a GBX 15.60 ($0.21) dividend. This represents a yield of 2.7%. This is a boost from Drax Group's previous dividend of $10.40. The ex-dividend date is Thursday, April 24th. Drax Group's payout ratio is presently 14.24%.

Insider Buying and Selling at Drax Group

In related news, insider Will Gardiner sold 114,917 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of GBX 574 ($7.64), for a total transaction of £659,623.58 ($877,859.44). 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.

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