Drax Group (LON:DRX) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Drax Group plc (LON:DRX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 775.68 and traded as high as GBX 881. Drax Group shares last traded at GBX 863, with a volume of 784,333 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Jefferies Financial Group raised their price target on Drax Group from GBX 750 to GBX 1,120 and gave the company a “buy” rating in a report on Wednesday, January 7th. Citigroup increased their target price on shares of Drax Group from GBX 850 to GBX 923 and gave the company a “buy” rating in a research report on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Drax Group has an average rating of “Buy” and an average price target of GBX 998.25.

Drax Group Stock Up 0.8%

The company has a debt-to-equity ratio of 67.01, a quick ratio of 0.32 and a current ratio of 1.07. The company has a market cap of £2.95 billion, a P/E ratio of 8.08, a P/E/G ratio of 0.10 and a beta of 0.74. The stock has a 50 day moving average price of GBX 880.05 and a 200 day moving average price of GBX 775.68.

Drax Group (LON:DRX) last announced its earnings results on Thursday, February 26th. The company reported GBX 137.70 earnings per share for the quarter. Drax Group had a return on equity of 3.94% and a net margin of 1.35%. Research analysts expect that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

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.