Drax Group Sees Change in BlackRock’s Shareholding

The latest announcement is out from Drax Group plc ( (GB:DRX) ).

Drax Group plc has announced a change in its shareholder structure, with BlackRock, Inc. adjusting its holdings in the company. The notification indicates that BlackRock’s voting rights in Drax have fallen below the 5% threshold, which may impact the company’s shareholder dynamics and influence in decision-making processes.

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 a robust 79, driven by strong technical indicators and an attractive valuation. Solid financial performance and strategic shareholder value initiatives further support the score. Although regulatory uncertainties and project delays pose risks, Drax’s proactive management and strategic planning mitigate these concerns.

To see Spark’s full report on GB:DRX stock, click here.

More about Drax Group plc

Drax Group plc is a UK-based company primarily involved in the energy industry, focusing on renewable energy solutions. The company is known for its efforts in biomass energy production and aims to contribute to the UK’s carbon reduction goals.

Average Trading Volume: 1,615,652

Technical Sentiment Signal: Strong Buy

Current Market Cap: £2.28B

See more insights into DRX stock on TipRanks’ Stock Analysis page.