Gresham House Energy Storage (LON:GRID) Announces Quarterly Earnings Results

Gresham House Energy Storage (LON:GRID) announced its quarterly earnings results on Wednesday. The company reported GBX (0.63) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Gresham House Energy Storage had a net margin of 90.03% and a return on equity of 3.71%.

Gresham House Energy Storage Stock Down 2.1%

GRID stock opened at GBX 96.15 on Friday. The stock has a market capitalization of £547.18 million, a P/E ratio of 23.45 and a beta of 0.03. The firm has a 50-day simple moving average of GBX 96.54 and a 200-day simple moving average of GBX 85.48. Gresham House Energy Storage has a 52 week low of GBX 66.90 and a 52 week high of GBX 104.50.

Insiders Place Their Bets

In other news, insider David Stevenson acquired 8,610 shares of the business’s stock in a transaction on Thursday, September 24th. The stock was bought at an average cost of GBX 98 per share, for a total transaction of £8,437.80. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GRID. Royal Bank Of Canada boosted 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 note on Friday, May 29th. Jefferies Financial Group restated a “buy” rating on shares of Gresham House Energy Storage in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 85.

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.