Drax Group (LON:DRX) Shares Down 7.5% - What's Next?

Key Points

• Drax Group's stock price fell by 7.5%, trading as low as GBX 613.90 before closing at GBX 650.50.
• Analysts have mixed ratings for Drax Group, with a "Moderate Buy" average rating and a consensus price target of GBX 844.50.
• Insider transactions include a notable sale where CEO Will Gardiner sold 150,000 shares at an average price of GBX 660.

Drax Group plc (LON:DRX - Get Free Report) shares dropped 7.5% during trading on Friday . The company traded as low as GBX 613.90 ($8.22) and last traded at GBX 650.50 ($8.71). Approximately 3,214,309 shares traded hands during trading, an increase of 56% from the average daily volume of 2,056,113 shares. The stock had previously closed at GBX 703.50 ($9.42).

Analyst Upgrades and Downgrades

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

Drax Group Trading Up 0.6%

The firm has a fifty day simple moving average of GBX 687 and a two-hundred day simple moving average of GBX 636.81. The firm has a market capitalization of £2.20 billion, a P/E ratio of 584.96, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32.

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

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.