Drax Group (LON:DRX) Shares Pass Above 200 Day Moving Average – Time to Sell?

Drax Group plc (LON:DRX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 576.10 ($7.48) and traded as high as GBX 656 ($8.52). Drax Group shares last traded at GBX 643 ($8.35), with a volume of 342,927 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DRX shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Drax Group in a research report on Friday, July 5th. Jefferies Financial Group upped their target price on Drax Group from GBX 600 ($7.79) to GBX 750 ($9.74) and gave the stock a “buy” rating in a report on Monday, July 29th.

Drax Group Trading Down 0.7 %

The stock has a market cap of £2.43 billion, a price-to-earnings ratio of 384.64, a P/E/G ratio of 0.10 and a beta of 1.22. The business has a 50-day simple moving average of GBX 645.96 and a two-hundred day simple moving average of GBX 577.13. The company has a debt-to-equity ratio of 63.77, a current ratio of 1.26 and a quick ratio of 0.32.

Insider Activity at Drax Group

In related news, insider Rob Shuter acquired 80,000 shares of Drax Group stock in a transaction on Wednesday, July 31st. The stock was purchased at an average cost of GBX 646 ($8.39) per share, with a total value of £516,800 ($670,994.55). 0.67% of the stock is owned by company insiders.

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.