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 company traded as high as GBX 47.50 ($0.60) and last traded at GBX 47 ($0.59). 1,167,778 shares traded 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 business’s fifty day simple moving average is GBX 45.37 and its 200 day simple moving average is GBX 49.75. The stock has a market cap of £266.83 million, a P/E ratio of -1.36 and a beta of 0.26.

Insiders Place Their Bets

In other Gresham House Energy Storage news, insider John Leggate bought 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of GBX 44 ($0.56) per share, for a total transaction of £4,400 ($5,559.07). Insiders own 3.33% of the company’s stock.

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.