Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Drax Group plc ( (GB:DRX) ) has shared an announcement.
Drax Group plc has executed a share buyback program, purchasing 114,863 of its ordinary shares on the London Stock Exchange at an average price of 684.9060 pence per share. 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, Drax Group’s total number of shares in issue stands at 432,046,489, with 85,959,188 held in treasury, impacting the total voting rights and shareholding calculations for stakeholders.
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, primarily focusing on renewable energy generation and biomass power production. The company is known for its commitment to sustainable energy solutions and has a significant presence in the UK market.
Average Trading Volume: 1,249,905
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.36B
See more insights into DRX stock on TipRanks’ Stock Analysis page.