Drax Group plc ( (GB:DRX) ) just unveiled an update.
Drax Group plc has applied for the block listing of 320,000 ordinary shares on the UK Listing Authority and the London Stock Exchange. These shares, associated with The Drax Group plc Sharesave Plan, will be traded on the main market and are expected to be admitted on 11 April 2025, aligning with existing shares in issue.
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 solid financial performance and attractive valuation metrics, offset by bearish technical indicators and regulatory uncertainties. The company’s strong cash flow and profitability, along with strategic earnings growth initiatives, position it well in the renewable utilities sector despite short-term technical challenges.
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 production and biomass power generation. The company is known for its efforts in transitioning from coal-based energy to sustainable energy solutions, positioning itself as a leader in the renewable energy market.
YTD Price Performance: -17.21%
Average Trading Volume: 1,670,429
Technical Sentiment Signal: Hold
Current Market Cap: £1.92B
See more data about DRX stock on TipRanks’ Stock Analysis page.