Drax Group plc (OTCMKTS:DRXGF) Sees Significant Decline in Short Interest

Drax Group plc (OTCMKTS:DRXGF) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 249,000 shares, a drop of 28.4% from the February 28th total of 347,900 shares. Based on an average daily volume of 400 shares, the days-to-cover ratio is presently 622.5 days.

Drax Group Stock Performance

Drax Group stock remained flat at $7.50 during mid-day trading on Friday. The firm’s fifty day simple moving average is $7.70 and its 200 day simple moving average is $8.09. Drax Group has a 12 month low of $5.80 and a 12 month high of $8.92.

About Drax Group

Drax Group plc, together with its subsidiaries, engages in renewable power generation in the United Kingdom. It operates through three segments: Pellet Production, Generation, and Customers. The Pellet Production segment produces and sells biomass pellets. The Generation segment provides renewable, dispatchable power, and system support services to the electricity grid.