Drax Group plc (OTCMKTS:DRXGY) Sees Significant Decline in Short Interest

Drax Group plc (OTCMKTS:DRXGYGet Rating) was the recipient of a significant decline in short interest in the month of December. As of December 30th, there was short interest totalling 1,200 shares, a decline of 14.3% from the December 15th total of 1,400 shares. Based on an average daily volume of 500 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DRXGY shares. Credit Suisse Group upgraded Drax Group from an “underperform” rating to a “neutral” rating in a report on Thursday, November 10th. Jefferies Financial Group upgraded Drax Group from a “hold” rating to a “buy” rating in a report on Monday, October 31st.

Drax Group Price Performance

Shares of OTCMKTS:DRXGY opened at $20.92 on Friday. Drax Group has a 52 week low of $11.25 and a 52 week high of $21.58. The firm has a 50 day moving average of $15.10 and a 200 day moving average of $15.37.

About Drax Group

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Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. The company operates through three segments: Generation, Customers, and Pellet Production. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.

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