Drax Group (LON:DRX) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Drax Group plc (LON:DRX - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 580.98 ($7.53) and traded as high as GBX 629.50 ($8.16). Drax Group shares last traded at GBX 624 ($8.09), with a volume of 951,142 shares traded.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DRX. JPMorgan Chase & Co. restated an "overweight" rating on shares of Drax Group in a report on Friday, July 5th. Jefferies Financial Group boosted their price objective on shares of Drax Group from GBX 600 ($7.78) to GBX 750 ($9.73) and gave the stock a "buy" rating in a report on Monday, July 29th.

Drax Group Stock Performance

The company has a debt-to-equity ratio of 63.77, a quick ratio of 0.32 and a current ratio of 1.26. The firm has a market cap of £2.37 billion, a P/E ratio of 375.90, a P/E/G ratio of 0.10 and a beta of 1.22. The business's 50-day simple moving average is GBX 642.13 and its 200 day simple moving average is GBX 581.87.

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.