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Drax Group (LON:DRX) Shares Pass Above 200 Day Moving Average - Here's What Happened

Drax Group logo with Utilities background

Drax Group plc (LON:DRX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 593.84 ($7.51) and traded as high as GBX 662 ($8.38). Drax Group shares last traded at GBX 651 ($8.24), with a volume of 771,055 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their target price on Drax Group from GBX 600 ($7.59) to GBX 750 ($9.49) and gave the company a "buy" rating in a research note on Monday, July 29th.

Read Our Latest Stock Report on DRX

Drax Group Trading Down 0.6 %

The business has a 50-day moving average price of GBX 641.31 and a two-hundred day moving average price of GBX 594.73. The stock has a market capitalization of £2.46 billion, a P/E ratio of 389.76, 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 63.77.

About Drax Group

(Get Free Report)

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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