Gresham House Energy Storage (LON:GRID) Hits New 52-Week High – Should You Buy?

Gresham House Energy Storage (LON:GRID) reached a new 52-week high during trading on Monday . The company traded as high as GBX 99 and last traded at GBX 98.88, with a volume of 28419 shares trading hands. The stock had previously closed at GBX 97.88.

Analyst Ratings Changes

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

Gresham House Energy Storage Stock Performance

The stock has a market capitalization of £562.69 million, a P/E ratio of 24.12 and a beta of 0.03. The business has a fifty day simple moving average of GBX 91.31 and a 200-day simple moving average of GBX 81.17.

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.