Drax Group Executes Share Buyback, Adjusting Share Structure

An update from Drax Group plc ( (GB:DRX) ) is now available.

Drax Group plc has executed a share buyback transaction, purchasing 168,027 of its ordinary shares at an average price of 633.91 pence per share as part of its ongoing buyback program. This transaction affects the company’s share structure, with a total of 429,602,134 ordinary shares now in issue, including treasury shares, and 354,320,071 voting rights available, potentially impacting shareholder interests and market perceptions.

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 receives a strong overall stock score driven by its attractive valuation and robust technical indicators. The company showcases effective financial performance with a focus on cash generation, despite some challenges in revenue consistency and leverage management. The strategic share buyback program and positive earnings call further support investor confidence, though regulatory uncertainties remain a concern.

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 production and power generation. The company is known for its biomass-fueled power stations and is a significant player in the transition to sustainable energy solutions.

Average Trading Volume: 1,615,423

Technical Sentiment Signal: Strong Buy

Current Market Cap: £2.24B

For detailed information about DRX stock, go to TipRanks’ Stock Analysis page.