Gresham House Energy Storage (LON:GRID) Sets New 12-Month High – Here’s What Happened

Gresham House Energy Storage (LON:GRID)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 87 and last traded at GBX 82.80, with a volume of 742613 shares trading hands. The stock had previously closed at GBX 80.20.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GRID. Jefferies Financial Group reissued a “buy” rating on shares of Gresham House Energy Storage in a report on Wednesday. Royal Bank Of Canada upped their price objective on shares of Gresham House Energy Storage from GBX 80 to GBX 85 and gave the stock a “sector perform” rating in a research report on Friday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 85.

Gresham House Energy Storage Stock Up 0.2%

The firm has a market cap of £472.32 million, a PE ratio of 20.24 and a beta of 0.02. The firm has a 50-day moving average price of GBX 75.42 and a two-hundred day moving average price of GBX 76.16.

Gresham House Energy Storage (LON:GRID) last issued its quarterly earnings results on Tuesday, April 21st. The company reported GBX (1.15) EPS for the quarter. Gresham House Energy Storage had a return on equity of 3.71% and a net margin of 90.03%.The firm had revenue of GBX 71 million for the quarter. Research analysts forecast that Gresham House Energy Storage will post 9.5149254 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Duncan Neale sold 13,500 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of GBX 75, for a total value of £10,125. Also, insider David Stevenson purchased 12,894 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of GBX 77 per share, for a total transaction of £9,928.38. 0.09% of the stock is currently owned by corporate 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.