Drax Group (LON:DRX) Shares Cross Above 200-Day Moving Average of $493.47

Drax Group plc (LON:DRX)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 493.47 ($6.26) and traded as high as GBX 520.50 ($6.60). Drax Group shares last traded at GBX 511.50 ($6.49), with a volume of 447,699 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Citigroup reissued a “sell” rating and issued a GBX 434 ($5.51) target price on shares of Drax Group in a report on Wednesday, April 3rd.

Drax Group Stock Performance

The stock has a 50 day moving average price of GBX 519.04 and a two-hundred day moving average price of GBX 493.57. The company has a market capitalization of £1.93 billion, a price-to-earnings ratio of 357.84, a price-to-earnings-growth ratio of 0.10 and a beta of 1.15. The company has a debt-to-equity ratio of 78.72, a current ratio of 1.12 and a quick ratio of 0.32.

Insider Activity

In other news, insider Andy Skelton sold 15,869 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of GBX 489 ($6.20), for a total transaction of £77,599.41 ($98,438.93). Insiders own 0.67% of the company’s stock.

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.