Gresham House Energy Storage (LON:GRID) Hits New 12-Month High – Should You Buy?

Gresham House Energy Storage (LON:GRID) hit a new 52-week high on Tuesday. The company traded as high as GBX 105 and last traded at GBX 104.50, with a volume of 782,492 shares changing hands. The stock had previously closed at GBX 102.25.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “buy” rating on shares of Gresham House Energy Storage in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 85.

Gresham House Energy Storage Stock Up 0.7%

The firm’s 50 day simple moving average is GBX 97.66 and its 200 day simple moving average is GBX 85.28. The company has a market cap of £598.97 million, a price-to-earnings ratio of 4.44 and a beta of 0.03.

Gresham House Energy Storage (LON:GRID) last posted its quarterly earnings data on Wednesday, September 23rd. The company reported GBX (0.63) earnings per share for the quarter. Gresham House Energy Storage had a return on equity of 19.37% and a net margin of 97.65%. Analysts anticipate that Gresham House Energy Storage will post 9.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Gresham House Energy Storage news, insider Isabel Liu purchased 20,200 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The shares were purchased at an average cost of GBX 98 per share, with a total value of £19,796. Also, insider David Stevenson purchased 8,610 shares of Gresham House Energy Storage stock in a transaction dated Thursday, September 24th. The stock was bought at an average cost of GBX 98 per share, with a total value of £8,437.80. In the last quarter, insiders have purchased 43,660 shares of company stock valued at $21,389,778,530. 0.10% of the stock is owned by corporate insiders.

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.