Gresham House Energy Storage (LON:GRID) Sets New 1-Year High – Time to Buy?

Gresham House Energy Storage (LON:GRID) shares hit 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. The stock had previously closed at GBX 84.30.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada increased 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 reaffirmed a “buy” rating on shares of Gresham House Energy Storage in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Gresham House Energy Storage has a consensus rating of “Moderate Buy” and a consensus target price of GBX 85.

Gresham House Energy Storage Stock Up 5.6%

The company has a 50-day moving average of GBX 79.05 and a 200 day moving average of GBX 76.97. The firm has a market capitalization of £506.47 million, a PE ratio of 21.71 and a beta of 0.02.

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