Drax Group plc ( (GB:DRX) ) just unveiled an announcement.
Drax Group plc has executed a share buyback transaction, purchasing 118,006 of its ordinary shares at a weighted average price of 626.98 pence. This move is part of a buyback program initiated in August 2024, aimed at consolidating its share capital and potentially enhancing shareholder value. Following this transaction, the company holds 429,593,373 ordinary shares in issue, with 73,683,133 shares held in treasury. The total number of voting rights, excluding treasury shares, is now 355,910,240, which is relevant for shareholders and stakeholders monitoring their interests under regulatory obligations.
Spark’s Take on GB:DRX Stock
According to Spark, TipRanks’ AI Analyst, GB:DRX is a Outperform.
Drax Group plc’s strong financial performance, particularly in cash generation and profitability, drives a solid stock score. Attractive valuation metrics bolster this, though technical indicators and regulatory uncertainties suggest some caution.
To see Spark’s full report on GB:DRX stock, click here.
More about Drax Group plc
Average Trading Volume: 1,597,721
Technical Sentiment Signal: Strong Buy
Current Market Cap: £2.21B
See more data about DRX stock on TipRanks’ Stock Analysis page.