Gresham House Energy Storage (LON:GRID) Shares Up 0.1% - Still a Buy?

Key Points

• Gresham House Energy Storage shares increased by 0.1% during trading, reaching GBX 72.10 ($0.97), with a total trading volume decline of 14% from the average.
• The Royal Bank Of Canada raised its price target for the stock from GBX 7,000 to GBX 7,500, maintaining a "sector perform" rating.
• Insider Andy Koss purchased 29,503 shares at an average price of GBX 67, indicating confidence from company insiders in the stock's performance.

Gresham House Energy Storage (LON:GRID - Get Free Report) shares shot up 0.1% during mid-day trading on Wednesday . The stock traded as high as GBX 72.80 ($0.98) and last traded at GBX 72.10 ($0.97). 1,043,489 shares were traded during mid-day trading, a decline of 14% from the average session volume of 1,208,350 shares. The stock had previously closed at GBX 72 ($0.97).

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada boosted their price target on Gresham House Energy Storage from GBX 7,000 to GBX 7,500 and gave the company a "sector perform" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Gresham House Energy Storage presently has a consensus rating of "Hold" and an average price target of GBX 7,500.

Gresham House Energy Storage Trading Up 0.1%

The business has a 50-day moving average price of GBX 73.21 and a two-hundred day moving average price of GBX 71.74. The stock has a market capitalization of £410.30 million, a P/E ratio of -5,113.48 and a beta of 0.26.

Gresham House Energy Storage (LON:GRID - Get Free Report) last released its earnings results on Wednesday, September 24th. The company reported GBX (0.54) earnings per share for the quarter. Gresham House Energy Storage had a net margin of 105.20% and a negative return on equity of 28.90%. On average, sell-side analysts forecast that Gresham House Energy Storage will post 9.5149254 earnings per share for the current fiscal year.

Insider Buying and Selling at Gresham House Energy Storage

In other Gresham House Energy Storage news, insider Andy Koss purchased 29,503 shares of the stock in a transaction dated Wednesday, October 1st. The stock was bought at an average price of GBX 67 per share, with a total value of £19,767.01. Insiders own 0.09% of the company's stock.

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.

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