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Drax Group plc ( (GB:DRX) ) just unveiled an announcement.
Drax Group plc has executed a share buyback program, purchasing 61,199 ordinary shares on the London Stock Exchange. This transaction is part of a broader initiative announced in August 2024, aimed at consolidating the company’s share capital and potentially enhancing shareholder value. Following this purchase, the total number of voting rights in Drax Group, excluding treasury shares, stands at 344,936,270.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £742.00 price target. To see the full list of analyst forecasts on Drax Group plc stock, see the GB:DRX Stock Forecast page.
Spark’s Take on GB:DRX Stock
According to Spark, TipRanks’ AI Analyst, GB:DRX is a Outperform.
Drax Group plc’s overall score reflects its strong financial performance and attractive valuation, supported by positive earnings call insights. However, technical indicators suggest potential bearish momentum, and challenges in revenue growth and market conditions pose risks.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc operates in the energy sector, focusing on renewable energy solutions. The company is known for its efforts in transitioning from coal to biomass and other sustainable energy sources.
Average Trading Volume: 1,229,315
Technical Sentiment Signal: Buy
Current Market Cap: £2.45B
For a thorough assessment of DRX stock, go to TipRanks’ Stock Analysis page.