Drax Group (LON:DRX) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Drax Group plc (LON:DRX)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 593.84 ($7.48) and traded as high as GBX 662 ($8.33). Drax Group shares last traded at GBX 651 ($8.20), with a volume of 771,055 shares changing hands.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upped their price objective on shares of Drax Group from GBX 600 ($7.55) to GBX 750 ($9.44) and gave the company a “buy” rating in a report on Monday, July 29th.

Drax Group Price Performance

The firm has a 50-day simple moving average of GBX 641.46 and a 200 day simple moving average of GBX 595.69. The company has a debt-to-equity ratio of 63.77, a current ratio of 1.26 and a quick ratio of 0.32. The firm has a market cap of £2.49 billion, a PE ratio of 393.67, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22.

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.