Gresham House Energy Storage (LON:GRID) Stock Price Up 1.6% – Still a Buy?

Gresham House Energy Storage (LON:GRID) rose 1.6% during mid-day trading on Tuesday . The stock traded as high as GBX 93 and last traded at GBX 92.86. Approximately 57,059 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 655,044 shares. The stock had previously closed at GBX 91.40.

Wall Street Analyst Weigh In

Several research firms have weighed in on GRID. Royal Bank Of Canada lifted their price target on shares of 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 reissued a “buy” rating on shares of Gresham House Energy Storage in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from 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 Stock Up 0.7%

The firm has a 50-day simple moving average of GBX 88.32 and a 200-day simple moving average of GBX 79.60. The stock has a market cap of £530.04 million, a PE ratio of 22.72 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.