Gresham House Energy Storage (LON:GRID) Shares Up 1.3% - Still a Buy?

Key Points

• Gresham House Energy Storage's shares rose by 1.3%, trading at GBX 72.35 ($0.98) after previously closing at GBX 71.40 ($0.97), with a notable decline in trading volume.
• The Royal Bank of Canada increased its price target for the stock from GBX 7,000 to GBX 7,500 and designated it as "sector perform," while the consensus rating remains a "Hold."
• Gresham House Energy Storage focuses on investing in utility-scale Battery Energy Storage Systems to leverage renewable energy market opportunities in Great Britain.

Gresham House Energy Storage (LON:GRID - Get Free Report)'s share price shot up 1.3% on Thursday . The stock traded as high as GBX 72.50 ($0.98) and last traded at GBX 72.35 ($0.98). 333,638 shares changed hands during trading, a decline of 68% from the average session volume of 1,028,322 shares. The stock had previously closed at GBX 71.40 ($0.97).

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada upped their price objective on shares of Gresham House Energy Storage from GBX 7,000 to GBX 7,500 and gave the stock a "sector perform" rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Gresham House Energy Storage has a consensus rating of "Hold" and a consensus target price of GBX 7,500.

Gresham House Energy Storage Stock Up 1.3%

The stock's 50-day moving average price is GBX 77.08 and its 200-day moving average price is GBX 68.57. The company has a market capitalization of £411.72 million, a price-to-earnings ratio of -356.05 and a beta of 0.26.

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.

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