Drax Group (LON:DRX) Share Price Breaks Below Two Hundred Day Moving Average – What’s Next?

Drax Group plc (LON:DRX)’s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 820.83 and traded as low as GBX 805.45. Drax Group shares last traded at GBX 807.50, with a volume of 153,563 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group decreased their target price on Drax Group from GBX 920 to GBX 870 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 3,343.33.

Drax Group Price Performance

The company has a current ratio of 1.07, a quick ratio of 0.32 and a debt-to-equity ratio of 68.79. The company has a market cap of £2.72 billion, a price-to-earnings ratio of 95.00, a P/E/G ratio of 0.10 and a beta of 0.62. The business has a 50-day moving average price of GBX 796.06 and a 200 day moving average price of GBX 820.83.

Drax Group (LON:DRX) last issued its quarterly earnings results on Thursday, July 30th. The company reported GBX 29.80 earnings per share for the quarter. Drax Group had a return on equity of 1.10% and a net margin of 0.37%. As a group, research analysts expect that Drax Group plc will post 97.47 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.