Drax Group plc (OTCMKTS:DRXGF) Sees Large Drop in Short Interest

Drax Group plc (OTCMKTS:DRXGF) saw a large decline in short interest in January. As of January 15th, there was short interest totaling 52,505 shares, a decline of 71.2% from the December 31st total of 182,142 shares. Based on an average trading volume of 100 shares, the days-to-cover ratio is presently 525.1 days. Based on an average trading volume of 100 shares, the days-to-cover ratio is presently 525.1 days.

Drax Group Price Performance

Shares of DRXGF opened at $12.00 on Friday. The company’s 50-day simple moving average is $10.76 and its 200-day simple moving average is $9.80. Drax Group has a 1 year low of $7.33 and a 1 year high of $12.00.

Drax Group Company Profile

Drax Group is a UK-based energy company primarily engaged in the generation of low-carbon electricity and the production of sustainable biomass. The company’s flagship facility, Drax Power Station in North Yorkshire, is the largest single-site generator of renewable electricity in the United Kingdom. Over recent years, Drax has transitioned from coal to sustainably sourced wood pellets, positioning itself as a leader in the move toward carbon-neutral power generation. In addition to electricity generation, Drax Group operates a supply business serving industrial and commercial customers across the UK, providing tailored energy solutions with an emphasis on flexibility and carbon reduction.

Founded with the commissioning of Drax Power Station in the mid-1970s, the business was privatized following the UK electricity market reforms of the early 1990s and later listed on the London Stock Exchange in 2005.