Drax Group’s (DRX) Sell Rating Reiterated at Citigroup

Citigroup reaffirmed their sell rating on shares of Drax Group (LON:DRX) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage currently has a GBX 529 ($6.65) price objective on the stock.

Separately, JPMorgan Chase & Co. raised their price objective on Drax Group from GBX 850 ($10.68) to GBX 900 ($11.31) and gave the company an “overweight” rating in a research note on Tuesday.

Drax Group Stock Performance

Shares of DRX stock opened at GBX 632.50 ($7.95) on Tuesday. The company has a market cap of £2.32 billion, a price-to-earnings ratio of 3.75, a price-to-earnings-growth ratio of 0.10 and a beta of 1.22. The stock has a 50 day simple moving average of GBX 632.58 and a 200-day simple moving average of GBX 640.98. Drax Group has a 12-month low of GBX 407.40 ($5.12) and a 12-month high of GBX 692 ($8.70). The company has a current ratio of 1.26, a quick ratio of 0.32 and a debt-to-equity ratio of 64.11.

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.