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Drax Group plc ( (GB:DRX) ) has provided an update.
Drax Group plc has executed a share buyback, purchasing 69,065 of its ordinary shares on the London Stock Exchange as part of its ongoing buyback program. This transaction reflects the company’s strategic financial management, potentially enhancing shareholder value and indicating confidence in its market position. The total number of shares in issue after this transaction is 431,780,005, with 83,279,757 held in treasury, impacting the voting rights and shareholding calculations under regulatory 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’s strong cash flow and undervaluation are significant positives, supported by strategic initiatives. However, revenue consistency and market challenges limit the score.
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 primarily on renewable energy generation and biomass power. The company is known for its efforts in transitioning from coal to sustainable energy sources, positioning itself as a leader in the low-carbon energy market.
Average Trading Volume: 1,444,740
Technical Sentiment Signal: Buy
Current Market Cap: £2.38B
For a thorough assessment of DRX stock, go to TipRanks’ Stock Analysis page.