Gresham House Energy Storage (LON:GRID) Hits New 1-Year High – Here’s What Happened

Shares of Gresham House Energy Storage (LON:GRID) hit a new 52-week high on Wednesday . The company traded as high as GBX 103.50 and last traded at GBX 103, with a volume of 1137406 shares trading hands. The stock had previously closed at GBX 98.10.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GRID. Jefferies Financial Group reissued a “buy” rating on shares of Gresham House Energy Storage in a research note on Wednesday, May 27th. Royal Bank Of Canada lifted their target price on 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. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 85.

Gresham House Energy Storage Trading Up 5.4%

The company has a market cap of £588.32 million, a PE ratio of 25.22 and a beta of 0.03. The business’s 50-day simple moving average is GBX 93.43 and its 200-day simple moving average is GBX 82.36.

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.