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

Gresham House Energy Storage (LON:GRID) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 88.95 and last traded at GBX 88.95, with a volume of 75728 shares traded. The stock had previously closed at GBX 84.30.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GRID shares. Jefferies Financial Group reiterated a “buy” rating on shares of Gresham House Energy Storage in a research report on Wednesday, May 27th. Royal Bank Of Canada lifted their price target on Gresham House Energy Storage from GBX 80 to GBX 85 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Gresham House Energy Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 85.

Gresham House Energy Storage Stock Performance

The stock’s 50 day moving average price is GBX 79.60 and its 200-day moving average price is GBX 77.07. The company has a market cap of £513.80 million, a PE ratio of 22.02 and a beta of 0.02.

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

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.