Gresham House Energy Storage (LON:GRID) Reaches New 12-Month High – Still a Buy?

Gresham House Energy Storage (LON:GRID)’s stock price hit a new 52-week high on Monday. The company traded as high as GBX 108.50 and last traded at GBX 108.50, with a volume of 169,412 shares trading hands. The stock had previously closed at GBX 107.

Wall Street Analyst Weigh In

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

Gresham House Energy Storage Stock Performance

The company has a 50-day moving average of GBX 98.01 and a 200-day moving average of GBX 85.55. The firm has a market capitalization of £614.59 million, a price-to-earnings ratio of 4.56 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 (EPS) 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, analysts anticipate that Gresham House Energy Storage will post 9.51 EPS for the current fiscal year.

Insider Activity

In related news, insider Cathy Pitt acquired 14,850 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The shares were acquired at an average cost of £14,401.99 per share, for a total transaction of £213,869,551.50. Also, insider Isabel Liu acquired 20,200 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The stock was bought at an average cost of GBX 98 per share, for a total transaction of £19,796. Insiders purchased 43,660 shares of company stock worth $21,389,778,530 over the last quarter. 0.10% of the stock is currently owned by company insiders.

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.