Drax Group (LON:DRX) Sets New 1-Year High – Here’s What Happened

Drax Group plc (LON:DRX)’s stock price hit a new 52-week high on Tuesday . The company traded as high as GBX 782.50 and last traded at GBX 777, with a volume of 1268024 shares traded. The stock had previously closed at GBX 771.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup raised shares of Drax Group to a “buy” rating and lifted their price target for the company from GBX 689 to GBX 850 in a research report on Wednesday, December 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 950 price objective on shares of Drax Group in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of GBX 933.33.

Drax Group Stock Up 0.8%

The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11. The firm has a market capitalization of £2.63 billion, a P/E ratio of 7.14, a P/E/G ratio of 0.10 and a beta of 1.22. The stock’s 50-day simple moving average is GBX 728.18 and its 200-day simple moving average is GBX 695.38.

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.