Gresham House Energy Storage (LON:GRID) Shares Up 2.2% – Still a Buy?

Gresham House Energy Storage (LON:GRID)’s stock price shot up 2.2% during trading on Thursday . The stock traded as high as GBX 47.50 ($0.60) and last traded at GBX 47 ($0.59). 1,167,778 shares changed hands during trading, an increase of 15% from the average session volume of 1,011,528 shares. The stock had previously closed at GBX 46 ($0.58).

Gresham House Energy Storage Stock Performance

The stock has a market capitalization of £266.83 million, a price-to-earnings ratio of -1.36 and a beta of 0.26. The company’s 50 day moving average is GBX 45.37 and its 200 day moving average is GBX 49.75.

Insider Activity at Gresham House Energy Storage

In other Gresham House Energy Storage news, insider John Leggate purchased 10,000 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average price of GBX 44 ($0.56) per share, with a total value of £4,400 ($5,559.07). Corporate insiders own 3.33% 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.