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

Shares of Drax Group plc (LON:DRX) passed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their target price 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 Trading Up 0.2 %

The stock has a market capitalization of £2.37 billion, a P/E ratio of 375.90, a PEG ratio of 0.10 and a beta of 1.22. The stock’s fifty day moving average price is GBX 642.13 and its 200 day moving average price is GBX 582.37. The company has a debt-to-equity ratio of 63.77, a current ratio of 1.26 and a quick ratio of 0.32.

About Drax Group

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.