Drax Group (LON:DRX) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Posted by ABMN Staff on Oct 17th, 2024

Drax Group plc (LON:DRX – Get Free Report)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 569.58 ($7.44) and traded as high as GBX 661.50 ($8.64). Drax Group shares last traded at GBX 661.50 ($8.64), with a volume of 745,512 shares.

Analyst Upgrades and Downgrades

DRX has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price target on Drax Group from GBX 600 ($7.83) to GBX 750 ($9.79) and gave the stock a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Drax Group in a research note on Friday, July 5th.

Check Out Our Latest Research Report on DRX

Drax Group Trading Down 0.0 %

The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 63.77. The stock has a market capitalization of £2.52 billion, a PE ratio of 398.49, a P/E/G ratio of 0.10 and a beta of 1.22. The stock has a 50 day moving average price of GBX 645.37 and a 200-day moving average price of GBX 569.58.

Drax Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, October 25th. Stockholders of record on Thursday, September 19th will be given a dividend of GBX 10.40 ($0.14) per share. This represents a dividend yield of 1.84%. The ex-dividend date is Thursday, September 19th. Drax Group’s payout ratio is currently 1,445.78%.

Insider Buying and Selling

In other Drax Group news, insider Rob Shuter purchased 80,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were acquired at an average cost of GBX 646 ($8.44) per share, for a total transaction of £516,800 ($674,849.83). 0.67% of the stock is currently owned by insiders.

About Drax Group

(Get Free Report)

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.