Drax Group (LON:DRX) Stock Price Crosses Above 200-Day Moving Average of $558.32

Drax Group plc (LON:DRX)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 558.32 ($7.47) and traded as high as GBX 650 ($8.69). Drax Group shares last traded at GBX 644.50 ($8.62), with a volume of 1,223,604 shares.

Wall Street Analyst Weigh In

DRX has been the subject of a number of recent research reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Drax Group in a research report on Friday, July 5th. Jefferies Financial Group raised their price target on Drax Group from GBX 600 ($8.03) to GBX 750 ($10.03) and gave the stock a “buy” rating in a report on Monday, July 29th.

Drax Group Trading Down 0.1 %

The firm’s 50-day simple moving average is GBX 639.04 and its 200 day simple moving average is GBX 558.32. The stock has a market cap of £2.46 billion, a P/E ratio of 388.25, a PEG ratio of 0.10 and a beta of 1.22. The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 63.77.

Drax Group Cuts Dividend

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

Insider Activity at Drax Group

In other Drax Group news, insider Rob Shuter purchased 80,000 shares of Drax Group stock in a transaction on Wednesday, July 31st. The stock was bought at an average price of GBX 646 ($8.64) per share, for a total transaction of £516,800 ($691,278.76). 0.67% of the stock is owned by insiders.

Drax Group Company Profile

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.