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

Drax Group plc (OTCMKTS:DRXGF) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 21,300 shares, an increase of 475.7% from the December 15th total of 3,700 shares. Based on an average daily volume of 800 shares, the days-to-cover ratio is currently 26.6 days.

Drax Group Stock Performance

DRXGF remained flat at $7.62 on Wednesday. The company had a trading volume of 2 shares, compared to its average volume of 591. Drax Group has a 12-month low of $5.23 and a 12-month high of $8.92. The stock’s fifty day simple moving average is $8.13 and its two-hundred day simple moving average is $8.04.

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.