Gresham House Energy Storage (LON:GRID) Sets New 52-Week High – Still a Buy?

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

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed 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 company. Based on data from MarketBeat, Gresham House Energy Storage has an average rating of “Moderate Buy” and a consensus target price of GBX 85.

Gresham House Energy Storage Stock Performance

The firm’s 50 day moving average is GBX 97.44 and its 200-day moving average is GBX 85.03. The firm has a market cap of £588.98 million, a price-to-earnings ratio of 4.37 and a beta of 0.03.

Gresham House Energy Storage (LON:GRID) last posted its earnings results 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%. As a group, research analysts predict that Gresham House Energy Storage will post 9.51 EPS for the current year.

Insider Transactions at Gresham House Energy Storage

In other news, insider Isabel Liu purchased 20,200 shares of the firm’s stock in a transaction on Friday, September 25th. The stock was bought at an average cost of GBX 98 per share, for a total transaction of £19,796. Also, insider David Stevenson purchased 8,610 shares of the firm’s stock in a transaction on Thursday, September 24th. The shares were purchased at an average price of GBX 98 per share, with a total value of £8,437.80. Over the last three months, insiders bought 43,660 shares of company stock worth $21,389,778,530. 0.10% of the stock is owned by 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.