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Drax Group plc ( (GB:DRX) ) has shared an announcement.
Drax Group plc has executed a share buyback program, purchasing 116,300 of its ordinary shares on the London Stock Exchange at an average price of 676.3372 pence per share. This transaction is part of a larger initiative announced in August 2024, through which Drax has acquired a total of 45,887,364 shares for treasury, aiming to optimize its capital structure and potentially enhance shareholder value.
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, focusing on electricity generation and supply. The company is known for its biomass-fueled power stations and is a significant player in the UK’s renewable energy market.
Average Trading Volume: 1,287,240
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.34B
See more data about DRX stock on TipRanks’ Stock Analysis page.