Drax Group (LON:DRX) Share Price Crosses Above Two Hundred Day Moving Average of $550.80

Drax Group plc (LON:DRX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 550.80 ($7.28) and traded as high as GBX 625.50 ($8.26). Drax Group shares last traded at GBX 620.50 ($8.20), with a volume of 1,411,103 shares.

Analyst Ratings Changes

DRX has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of Drax Group from GBX 600 ($7.93) to GBX 750 ($9.91) and gave the company a “buy” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Drax Group in a report on Friday, July 5th.

Drax Group Price Performance

The stock has a market capitalization of £2.38 billion, a PE ratio of 373.80, a PEG ratio of 0.10 and a beta of 1.22. The firm’s fifty day moving average price is GBX 629.59 and its two-hundred day moving average price is GBX 550.80. The company has a quick ratio of 0.32, a current ratio of 1.26 and a debt-to-equity ratio of 63.77.

Drax Group Cuts Dividend

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

Insider Transactions at Drax Group

In other news, insider Rob Shuter acquired 80,000 shares of Drax Group stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average price of GBX 646 ($8.53) per share, for a total transaction of £516,800 ($682,694.85). Company insiders own 0.67% of the company’s stock.

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.