Drax Group (LON:DRX) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of Drax Group plc (LON:DRX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 838.77 and traded as high as GBX 876.50. Drax Group shares last traded at GBX 862.66, with a volume of 670,536 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DRX shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 1,000 price target on shares of Drax Group in a research note on Wednesday, May 6th. Citigroup upped their target price on Drax Group from GBX 850 to GBX 923 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 1,010.75.

Drax Group Stock Performance

The company has a 50 day moving average price of GBX 874.80 and a 200-day moving average price of GBX 838.77. The company has a current ratio of 1.07, a quick ratio of 0.32 and a debt-to-equity ratio of 67.01. The company has a market cap of £2.90 billion, a P/E ratio of 42.71, a price-to-earnings-growth ratio of 0.10 and a beta of 0.66.

Drax Group (LON:DRX) last issued its quarterly earnings results on Thursday, February 26th. The company reported GBX 137.70 earnings per share (EPS) for the quarter. Drax Group had a return on equity of 3.94% and a net margin of 1.35%. On average, equities analysts expect that Drax Group plc will post 97.4732006 earnings per share for the current fiscal year.

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. The Customers segment supplies electricity and gas to non-domestic customers. The company owns and operates Drax Power Station located in Selby, North Yorkshire; Cruachan Power Station, a pumped storage hydro station, with an installed capacity of 440 megawatts (MW) located in Argyll and Bute; and Lanark and Galloway hydro-electric power stations with an installed capacity of 126 MW located in southwest Scotland.