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

Drax Group plc (OTCMKTS:DRXGF) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 84,700 shares, a growth of 61.3% from the January 15th total of 52,505 shares. Based on an average trading volume of 410 shares, the short-interest ratio is currently 206.6 days. Based on an average trading volume of 410 shares, the short-interest ratio is currently 206.6 days.

Drax Group Price Performance

OTCMKTS DRXGF opened at $12.75 on Monday. Drax Group has a 12 month low of $7.33 and a 12 month high of $12.00. The stock has a 50 day moving average of $11.25 and a 200-day moving average of $10.04.

Drax Group Company Profile

Drax Group is a UK-based energy company primarily engaged in the generation of low-carbon electricity and the production of sustainable biomass. The company’s flagship facility, Drax Power Station in North Yorkshire, is the largest single-site generator of renewable electricity in the United Kingdom. Over recent years, Drax has transitioned from coal to sustainably sourced wood pellets, positioning itself as a leader in the move toward carbon-neutral power generation. In addition to electricity generation, Drax Group operates a supply business serving industrial and commercial customers across the UK, providing tailored energy solutions with an emphasis on flexibility and carbon reduction.

Founded with the commissioning of Drax Power Station in the mid-1970s, the business was privatized following the UK electricity market reforms of the early 1990s and later listed on the London Stock Exchange in 2005.