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

Drax Group plc (OTCMKTS:DRXGY) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 239 shares, a decline of 29.5% from the March 15th total of 339 shares. Based on an average daily trading volume, of 39 shares, the days-to-cover ratio is currently 6.1 days.

Drax Group Price Performance

Shares of DRXGY stock opened at $22.68 on Tuesday. The business has a 50-day simple moving average of $23.45 and a 200-day simple moving average of $21.72. Drax Group has a 52-week low of $14.24 and a 52-week high of $25.25.

About Drax Group

Drax Group is a leading renewable energy company focused on power generation and sustainable biomass production. Headquartered in Selby, North Yorkshire, England, the company operates Europe’s largest decarbonization project at Drax Power Station, which has transitioned from coal to low-carbon biomass. In addition to its core generation assets, Drax Group provides balancing services and system support to the UK electricity grid, helping to maintain network stability and reliability.

The company’s biomass division includes pellet mills and production facilities across the southeastern United States, where Drax Group manufactures sustainable wood pellets from responsibly managed forests.