Gresham House Energy Storage (LON:GRID) Hits New 12-Month High – Should You Buy?

Shares of Gresham House Energy Storage (LON:GRID) hit a new 52-week high on Wednesday . The stock traded as high as GBX 103.50 and last traded at GBX 103, with a volume of 1137406 shares. The stock had previously closed at GBX 98.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GRID shares. Royal Bank Of Canada raised their price target on Gresham House Energy Storage from GBX 80 to GBX 85 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. Jefferies Financial Group reissued 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 85.

Gresham House Energy Storage Price Performance

The stock has a market capitalization of £588.32 million, a P/E ratio of 25.22 and a beta of 0.03. The stock’s fifty day moving average is GBX 93.43 and its 200-day moving average is GBX 82.36.

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.