Drax Group plc (OTCMKTS:DRXGF) Sees Significant Increase in Short Interest

Drax Group plc (OTCMKTS:DRXGF) was the target of a large increase in short interest in February. As of February 15th, there was short interest totalling 349,000 shares, an increase of 30.2% from the January 31st total of 268,100 shares. Based on an average trading volume of 800 shares, the days-to-cover ratio is currently 436.3 days.

Drax Group Price Performance

Shares of OTCMKTS:DRXGF traded down $0.26 during trading on Tuesday, reaching $7.66. 795 shares of the company’s stock traded hands, compared to its average volume of 1,881. Drax Group has a fifty-two week low of $5.80 and a fifty-two week high of $8.92. The company has a 50-day simple moving average of $7.71 and a 200-day simple moving average of $8.19.

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.