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

Shares of Gresham House Energy Storage (LON:GRID) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 87 and last traded at GBX 82.80, with a volume of 742613 shares trading hands. The stock had previously closed at GBX 80.20.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating on shares of Gresham House Energy Storage in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Gresham House Energy Storage presently has an average rating of “Moderate Buy” and an average price target of GBX 7,500.

Gresham House Energy Storage Stock Up 3.2%

The firm’s 50-day simple moving average is GBX 75.14 and its 200 day simple moving average is GBX 76.04. The stock has a market capitalization of £471.18 million, a P/E ratio of 20.20 and a beta of 0.02.

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

Insiders Place Their Bets

In related news, insider John Leggate sold 111,341 shares of Gresham House Energy Storage stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of GBX 75, for a total value of £83,505.75. Also, insider Duncan Neale sold 13,500 shares of Gresham House Energy Storage stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of GBX 75, for a total value of £10,125. 0.09% of the stock is owned by company 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.