Drax Group plc (OTCMKTS:DRXGF) Sees Large Drop in Short Interest

Drax Group plc (OTCMKTS:DRXGF) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 249,000 shares, a decline of 28.4% from the February 28th total of 347,900 shares. Based on an average daily volume of 400 shares, the short-interest ratio is currently 622.5 days.

Drax Group Stock Performance

Shares of DRXGF stock remained flat at $7.50 during midday trading on Tuesday. 2 shares of the company traded hands, compared to its average volume of 2,050. Drax Group has a 1-year low of $5.80 and a 1-year high of $8.92. The firm has a 50 day moving average price of $7.70 and a 200 day moving average price of $8.09.

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.