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

Drax Group plc (OTCMKTS:DRXGF) was the target of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 349,000 shares, an increase of 30.2% from the January 31st total of 268,100 shares. Based on an average daily trading volume, of 800 shares, the short-interest ratio is currently 436.3 days.

Drax Group Stock Performance

Shares of OTCMKTS DRXGF traded down $0.26 during mid-day trading on Wednesday, reaching $7.66. 795 shares of the company’s stock were exchanged, compared to its average volume of 1,881. The company’s 50-day moving average is $7.71 and its 200-day moving average is $8.18. Drax Group has a 52-week low of $5.80 and a 52-week 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.