Drax Group (LON:DRX) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Drax Group plc (LON:DRX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 686.41 and traded as high as GBX 736.56. Drax Group shares last traded at GBX 736.56, with a volume of 1,136,127 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 950 price target on shares of Drax Group in a report on Wednesday, November 5th. Citigroup lifted their target price on shares of Drax Group from GBX 682 to GBX 689 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 879.67.

Drax Group Stock Up 2.3%

The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 64.11. The company has a 50 day simple moving average of GBX 715.25 and a two-hundred day simple moving average of GBX 686.41. The company has a market capitalization of £2.53 billion, a P/E ratio of 6.84, a PEG 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.