Gresham House Energy Storage (LON:GRID) Shares Down 1.3% – Here’s What Happened

Gresham House Energy Storage (LON:GRID) shares fell 1.3% during mid-day trading on Tuesday . The stock traded as low as GBX 41.80 ($0.52) and last traded at GBX 43 ($0.54). 2,503,137 shares changed hands during mid-day trading, an increase of 139% from the average session volume of 1,047,954 shares. The stock had previously closed at GBX 43.55 ($0.54).

Gresham House Energy Storage Stock Performance

The firm’s 50 day moving average is GBX 46.89 and its 200-day moving average is GBX 52.55. The stock has a market capitalization of £238.58 million, a price-to-earnings ratio of -209.63 and a beta of 0.26.

Insiders Place Their Bets

In related news, insider John Leggate acquired 10,000 shares of Gresham House Energy Storage stock in a transaction on Friday, December 13th. The stock was bought at an average cost of GBX 44 ($0.55) per share, for a total transaction of £4,400 ($5,474.68). 3.33% of the stock is currently owned by company insiders.

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.