Gresham House Energy Storage (LON:GRID) Hits New 1-Year High – What’s Next?

Gresham House Energy Storage (LON:GRID)’s share price hit a new 52-week high during mid-day trading on Monday. The company traded as high as GBX 108.50 and last traded at GBX 108.50, with a volume of 169,412 shares trading hands. The stock had previously closed at GBX 107.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a “buy” rating on shares of Gresham House Energy Storage in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Gresham House Energy Storage presently has a consensus rating of “Moderate Buy” and an average price target of GBX 85.

Gresham House Energy Storage Price Performance

The firm has a market cap of £623.13 million, a P/E ratio of 4.62 and a beta of 0.03. The business’s 50-day moving average is GBX 98.44 and its two-hundred day moving average is GBX 85.86.

Gresham House Energy Storage (LON:GRID) last issued its quarterly earnings results on Wednesday, September 23rd. The company reported GBX (0.63) earnings per share (EPS) for the quarter. Gresham House Energy Storage had a net margin of 97.65% and a return on equity of 19.37%. Equities research analysts predict that Gresham House Energy Storage will post 9.51 EPS for the current year.

Insider Buying and Selling

In related news, insider Cathy Pitt purchased 14,850 shares of Gresham House Energy Storage stock in a transaction that occurred on Thursday, October 1st. The stock was purchased at an average cost of £14,401.99 per share, with a total value of £213,869,551.50. Also, insider Isabel Liu purchased 20,200 shares of Gresham House Energy Storage stock in a transaction that occurred on Friday, September 25th. The shares were bought at an average cost of GBX 98 per share, with a total value of £19,796. Over the last quarter, insiders have purchased 43,660 shares of company stock worth $21,389,778,530. Corporate insiders own 0.10% of the company’s stock.

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.