Gresham House Energy Storage (LON:GRID) Reaches New 12-Month High – Still a Buy?

Gresham House Energy Storage (LON:GRID)’s stock price hit a new 52-week high on Monday . The company 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.

Analysts Set New Price Targets

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

Gresham House Energy Storage Stock Performance

The company has a market capitalization of £517.85 million, a price-to-earnings ratio of 22.20 and a beta of 0.02. The firm’s 50 day simple moving average is GBX 80.79 and its 200-day simple moving average is GBX 77.37.

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