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

Shares of Gresham House Energy Storage (LON:GRID) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 91.40 and last traded at GBX 90.37, with a volume of 357543 shares traded. The stock had previously closed at GBX 90.24.

Wall Street Analyst Weigh In

GRID has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on Gresham House Energy Storage from GBX 80 to GBX 85 and gave the company a “sector perform” rating in a research note on Friday, May 29th. Jefferies Financial Group restated 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 issued a Hold rating to the company’s stock. According to MarketBeat, Gresham House Energy Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 85.

Gresham House Energy Storage Price Performance

The company has a market cap of £514.24 million, a P/E ratio of 22.04 and a beta of 0.01. The firm’s 50-day moving average is GBX 80.17 and its two-hundred day moving average is GBX 77.20.

Gresham House Energy Storage (LON:GRID) last released its quarterly earnings data on Tuesday, April 21st. The company reported GBX (1.15) EPS for the quarter. Gresham House Energy Storage had a net margin of 90.03% and a return on equity of 3.71%. The business had revenue of GBX 71 million for the quarter. As a group, sell-side analysts expect that Gresham House Energy Storage will post 9.5149254 EPS for the current year.

About Gresham House Energy Storage

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.