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Drax Group plc ( (GB:DRX) ) has shared an update.
Drax Group plc has executed a share buyback transaction, purchasing 150,000 of its ordinary shares at a weighted average price of 614.57 pence per share. This move is part of its ongoing share buyback programme announced in August 2024, and it impacts the total number of voting rights available to shareholders, potentially affecting their notification obligations under the FCA’s rules.
The most recent analyst rating on (GB:DRX) stock is a Buy with a £7.50 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 scores well due to robust financial performance, especially in cash generation and profitability, and attractive valuation metrics. The company’s strategic initiatives, including share buybacks and dividend increases, enhance shareholder value. However, challenges like inconsistent revenue growth and regulatory uncertainties temper the outlook. Technical indicators suggest cautious optimism, with potential resistance at current levels.
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, primarily focusing on renewable energy solutions. The company is known for its biomass-fueled power generation and is a key player in the transition to sustainable energy sources.
Average Trading Volume: 1,604,058
Technical Sentiment Signal: Buy
Current Market Cap: £2.17B
See more insights into DRX stock on TipRanks’ Stock Analysis page.
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