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

Shares of Gresham House Energy Storage (LON:GRID) reached a new 52-week high on Monday . The stock traded as high as GBX 99 and last traded at GBX 98.88, with a volume of 28419 shares traded. The stock had previously closed at GBX 97.88.

Analyst Ratings Changes

A number of analysts have recently weighed in on GRID shares. Royal Bank Of Canada upped 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 report on Friday, May 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Gresham House Energy Storage in a research note on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gresham House Energy Storage has an average rating of “Moderate Buy” and a consensus price target of GBX 85.

Gresham House Energy Storage Stock Performance

The stock’s fifty day simple moving average is GBX 91.31 and its two-hundred day simple moving average is GBX 81.17. The stock has a market capitalization of £562.69 million, a P/E ratio of 24.12 and a beta of 0.03.

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.