Gresham House Energy Storage (LON:GRID) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Gresham House Energy Storage (LON:GRID) shares passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of GBX 97.44 and traded as high as GBX 103.50. Gresham House Energy Storage shares last traded at GBX 102.25, with a volume of 2,477,210 shares.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a “buy” rating on shares of Gresham House Energy Storage in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of GBX 85.

Gresham House Energy Storage Stock Performance

The firm has a 50-day moving average of GBX 97.44 and a 200-day moving average of GBX 85.03. The firm has a market capitalization of £594.68 million, a P/E ratio of 4.41 and a beta of 0.03.

Gresham House Energy Storage (LON:GRID) last released its quarterly earnings data on Wednesday, September 23rd. The company reported GBX (0.63) EPS for the quarter. Gresham House Energy Storage had a return on equity of 19.37% and a net margin of 97.65%. On average, research analysts forecast that Gresham House Energy Storage will post 9.51 EPS for the current fiscal year.

Insider Buying and Selling at Gresham House Energy Storage

In related news, insider Isabel Liu purchased 20,200 shares of the firm’s stock in a transaction on Friday, September 25th. The shares were acquired at an average price of GBX 98 per share, for a total transaction of £19,796. Also, insider Cathy Pitt acquired 14,850 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were purchased at an average cost of £14,401.99 per share, for a total transaction of £213,869,551.50. Over the last ninety days, insiders acquired 43,660 shares of company stock valued at $21,389,778,530. Insiders own 0.10% of the company’s stock.

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.