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An announcement from Drax Group plc ( (GB:DRX) ) is now available.
Drax Group plc has executed a share buyback program, purchasing 306,300 of its ordinary shares on the London Stock Exchange. This move, part of a program announced in August 2024, reflects the company’s strategy to manage its capital structure and potentially enhance shareholder value. The transaction leaves Drax Group with 431,514,255 ordinary shares in issue, with 81,382,509 held in treasury, impacting the total number of voting rights available.
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 strong financial performance, attractive valuation metrics, and positive corporate actions like share buybacks. Technical indicators support bullish sentiment, though investors should be mindful of regulatory risks and revenue growth challenges.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Drax Group plc is a prominent player in the energy sector, primarily focusing on renewable energy solutions and power generation. The company is known for its efforts in transitioning from coal to biomass energy, aiming to provide sustainable energy solutions.
Average Trading Volume: 1,470,819
Technical Sentiment Signal: Buy
Current Market Cap: £2.37B
See more data about DRX stock on TipRanks’ Stock Analysis page.