Gore Street Energy Storage Fund (LON:GSF) Shares Down 0.6% – Here’s Why

Gore Street Energy Storage Fund (LON:GSF)’s stock price fell 0.6% during mid-day trading on Tuesday . The stock traded as low as GBX 53.30 and last traded at GBX 53.50. 1,972,002 shares traded hands during trading, an increase of 120% from the average session volume of 895,132 shares. The stock had previously closed at GBX 53.80.

Analyst Upgrades and Downgrades

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Gore Street Energy Storage Fund in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of GBX 60.

Gore Street Energy Storage Fund Stock Performance

The business’s 50 day simple moving average is GBX 58.68 and its 200-day simple moving average is GBX 59.34. The company has a market cap of £270.23 million, a price-to-earnings ratio of -8.43 and a beta of 0.31.

Gore Street Energy Storage Fund (LON:GSF) last announced its quarterly earnings data on Monday, December 15th. The company reported GBX (10.67) earnings per share (EPS) for the quarter. Gore Street Energy Storage Fund had a negative return on equity of 1.04% and a negative net margin of 80.72%. Research analysts expect that Gore Street Energy Storage Fund will post 2.9007634 earnings per share for the current year.

Insider Transactions at Gore Street Energy Storage Fund

In other Gore Street Energy Storage Fund news, insider Simon Merriweather purchased 13,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of GBX 55 per share, for a total transaction of £7,150. Also, insider Angus Gordon Lennox acquired 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was acquired at an average price of GBX 55 per share, with a total value of £110,000. 0.10% of the stock is owned by company insiders.

Gore Street Energy Storage Fund Company Profile

About Us: Gore Street Energy Storage Fund plc is London’s first listed energy storage fund, launched in 2018. The Company is the only UK-listed energy storage fund with a diversified portfolio across five grid networks. The Company is one of the principal owners and operators of battery storage facilities in Great Britain and Ireland and owns and operates facilities in Western Mainland Europe and the US. It is listed on the Premium Segment of the London Stock Exchange and included in the FTSE All-Share Index.
Energy storage technologies enhance power system stability and flexibility and are key tools for balancing out variability in renewable energy generation, facilitating the integration of more renewable energy supply into power grids.