Drax Group (LON:DRX) Hits New 1-Year High – What’s Next?

Shares of Drax Group plc (LON:DRX) reached a new 52-week high during mid-day trading on Tuesday . The stock 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).

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their target price on shares of Drax Group from GBX 600 ($7.72) to GBX 750 ($9.65) and gave the company a “buy” rating in a research note on Monday, July 29th.

Drax Group Price Performance

The firm has a market capitalization of £2.53 billion, a price-to-earnings ratio of 399.10, a PEG 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. The business has a 50-day moving average price of GBX 640.47 and a two-hundred day moving average price of GBX 589.89.

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.