Drax Group (LON:DRX) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Shares of Drax Group plc (LON:DRX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 731.62 and traded as high as GBX 906. Drax Group shares last traded at GBX 899.66, with a volume of 887,565 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on DRX. Citigroup upgraded Drax Group to a “buy” rating and lifted their price objective for the stock from GBX 689 to GBX 850 in a research note on Wednesday, December 3rd. Jefferies Financial Group raised their target price on Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 950 price target on shares of Drax Group in a report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 980.

Drax Group Trading Down 0.4%

The company has a debt-to-equity ratio of 64.11, a current ratio of 1.26 and a quick ratio of 0.32. The company’s 50 day moving average is GBX 800.92 and its two-hundred day moving average is GBX 731.62. The firm has a market cap of £3.06 billion, a P/E ratio of 8.35, a PEG ratio of 0.10 and a beta of 1.22.

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. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.