Gresham House Energy Storage (LON:GRID) Stock Jumps 0.5% – Here’s What Happened

Shares of Gresham House Energy Storage (LON:GRID) rose 0.5% during trading on Wednesday. The stock traded as high as GBX 95.20 and last traded at GBX 94.61. 272,495 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 638,084 shares. The stock had previously closed at GBX 94.10.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “buy” rating on shares of Gresham House Energy Storage in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 85.

Gresham House Energy Storage Stock Performance

The company has a market capitalization of £540.61 million, a price-to-earnings ratio of 4.01 and a beta of 0.03. The firm has a fifty day moving average price of GBX 97.40 and a 200-day moving average price of GBX 84.82.

Gresham House Energy Storage (LON:GRID) last posted its quarterly earnings results on Wednesday, September 23rd. The company reported GBX (0.63) EPS for the quarter. Gresham House Energy Storage had a net margin of 97.65% and a return on equity of 19.37%. On average, sell-side analysts forecast that Gresham House Energy Storage will post 9.51 EPS for the current fiscal year.

Insider Buying and Selling at Gresham House Energy Storage

In other news, insider Cathy Pitt bought 14,850 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was bought at an average cost of £14,401.99 per share, for a total transaction of £213,869,551.50. Also, insider Isabel Liu purchased 20,200 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were purchased at an average cost of GBX 98 per share, with a total value of £19,796. Insiders have bought a total of 43,660 shares of company stock valued at $21,389,778,530 in the last ninety days. 0.10% of the stock is currently owned by company insiders.

Gresham House Energy Storage Company Profile

Gresham House Energy Storage Fund plc (GRID or the Fund) seeks to capitalise on the growing intraday supply and demand imbalances caused by Great Britain’s ever increasing reliance on renewable energy. The Fund aims to provide investors with an attractive and sustainable dividend by investing in a portfolio of utility-scale Battery Energy Storage Systems (BESS) located in Great Britain, which primarily use batteries to import and export power, accessing multiple revenue sources available in the power market.

Gresham House Asset Management Limited (GHAM), is the investment Manager for Gresham House Energy Storage Fund plc.