Gresham House Energy Storage (LON:GRID) Stock Price Up 1.6% – Time to Buy?

Shares of Gresham House Energy Storage (LON:GRID) shot up 1.6% during mid-day trading on Tuesday . The company traded as high as GBX 93 and last traded at GBX 92.86. Approximately 57,059 shares changed hands during trading, a decline of 91% from the average daily volume of 655,044 shares. The stock had previously closed at GBX 91.40.

Wall Street Analysts Forecast Growth

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

Gresham House Energy Storage Trading Up 1.6%

The firm has a market capitalization of £528.43 million, a PE ratio of 22.65 and a beta of 0.03. The firm’s fifty day moving average price is GBX 88.06 and its 200 day moving average price is GBX 79.50.

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.