Drax Group (LON:DRX) Sets New 52-Week High - Should You Buy?

Drax Group plc (LON:DRX - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as GBX 687.50 ($8.85) and last traded at GBX 685.50 ($8.82), with a volume of 1254209 shares changing hands. The stock had previously closed at GBX 642 ($8.26).

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upped their target price on Drax Group from GBX 600 ($7.72) to GBX 750 ($9.65) and gave the company a "buy" rating in a report on Monday, July 29th.

Drax Group Stock Performance

The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 63.77. The business's 50 day simple moving average is GBX 639.51 and its two-hundred day simple moving average is GBX 587.62. The firm has a market capitalization of £2.54 billion, a PE ratio of 386.75, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22.

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.