Gresham House Energy Storage (LON:GRID) Trading Up 2.2% – Here’s Why

Gresham House Energy Storage (LON:GRID) rose 2.2% during trading on Thursday . The company traded as high as GBX 47.50 ($0.60) and last traded at GBX 47 ($0.60). Approximately 1,167,778 shares traded hands during mid-day trading, an increase of 15% from the average daily volume of 1,011,528 shares. The stock had previously closed at GBX 46 ($0.58).

Gresham House Energy Storage Trading Up 0.6 %

The company has a 50 day simple moving average of GBX 45.33 and a two-hundred day simple moving average of GBX 49.77. The firm has a market capitalization of £268.39 million, a P/E ratio of -1.36 and a beta of 0.26.

Insider Transactions at Gresham House Energy Storage

In other news, insider John Leggate purchased 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of GBX 44 ($0.56) per share, for a total transaction of £4,400 ($5,575.27). 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.