Drax Group (OTCMKTS:DRXGY) Shares Up 3.5% – What’s Next?

Drax Group plc (OTCMKTS:DRXGY) shot up 3.5% during mid-day trading on Tuesday . The stock traded as high as $23.58 and last traded at $23.58. Approximately 581 shares changed hands during trading, a decline of 10% from the average session volume of 647 shares. The stock had previously closed at $22.78.

Drax Group Price Performance

The stock’s 50-day moving average price is $23.83 and its 200-day moving average price is $20.75.

Drax Group Company Profile

Drax Group is a leading renewable energy company focused on power generation and sustainable biomass production. Headquartered in Selby, North Yorkshire, England, the company operates Europe’s largest decarbonization project at Drax Power Station, which has transitioned from coal to low-carbon biomass. In addition to its core generation assets, Drax Group provides balancing services and system support to the UK electricity grid, helping to maintain network stability and reliability.

The company’s biomass division includes pellet mills and production facilities across the southeastern United States, where Drax Group manufactures sustainable wood pellets from responsibly managed forests.