Gresham House Energy Storage (LON:GRID) Hits New 52-Week High – Here’s Why

Gresham House Energy Storage (LON:GRID)’s stock price reached a new 52-week high on Monday . The stock traded as high as GBX 97 and last traded at GBX 96.75, with a volume of 49652 shares traded. The stock had previously closed at GBX 96.60.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank Of Canada raised their price target on shares of Gresham House Energy Storage from GBX 80 to GBX 85 and gave the stock a “sector perform” rating in a report on Friday, May 29th. Jefferies Financial Group reissued a “buy” rating on shares of Gresham House Energy Storage in a report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 85.

Gresham House Energy Storage Price Performance

The stock has a fifty day moving average of GBX 89.88 and a 200 day moving average of GBX 80.41. The stock has a market cap of £550.57 million, a price-to-earnings ratio of 23.60 and a beta of 0.03.

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.