Gresham House Energy Storage (LON:GRID) Sets New 12-Month High – Here’s What Happened

Gresham House Energy Storage (LON:GRID) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 95.40 and last traded at GBX 95.36, with a volume of 39481 shares changing hands. The stock had previously closed at GBX 94.

Wall Street Analysts Forecast Growth

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

Gresham House Energy Storage Price Performance

The firm has a market capitalization of £546.30 million, a P/E ratio of 23.41 and a beta of 0.02. The company has a fifty day moving average of GBX 81.79 and a 200 day moving average of GBX 77.67.

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