Gore Street Energy Storage Fund (LON:GSF) Trading Down 0.9% – What’s Next?

Gore Street Energy Storage Fund (LON:GSF)’s share price dropped 0.9% on Tuesday . The company traded as low as GBX 53 and last traded at GBX 53.50. Approximately 6,577,532 shares were traded during mid-day trading, an increase of 457% from the average daily volume of 1,179,858 shares. The stock had previously closed at GBX 54.

Wall Street Analyst Weigh In

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Gore Street Energy Storage Fund in a research report on Friday, November 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell” and an average price target of GBX 60.

Gore Street Energy Storage Fund Price Performance

The stock has a market cap of £270.23 million, a price-to-earnings ratio of -8.43 and a beta of 0.31. The stock’s 50 day simple moving average is GBX 54.38 and its two-hundred day simple moving average is GBX 57.47.

Gore Street Energy Storage Fund (LON:GSF) last released its quarterly earnings data on Monday, December 15th. The company reported GBX (10.67) EPS for the quarter. Gore Street Energy Storage Fund had a negative return on equity of 1.04% and a negative net margin of 80.72%. As a group, analysts predict that Gore Street Energy Storage Fund will post 2.9007634 earnings per share for the current year.

Insider Transactions at Gore Street Energy Storage Fund

In related news, insider Angus Gordon Lennox bought 200,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was acquired at an average cost of GBX 55 per share, with a total value of £110,000. Also, insider Simon Merriweather bought 13,000 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average price of GBX 55 per share, with a total value of £7,150. 0.14% of the stock is owned by company insiders.

Gore Street Energy Storage Fund Company Profile

About Us: Gore Street Energy Storage Fund plc is London’s first listed energy storage fund, launched in 2018. The Company is the only UK-listed energy storage fund with a diversified portfolio across five grid networks. The Company is one of the principal owners and operators of battery storage facilities in Great Britain and Ireland and owns and operates facilities in Western Mainland Europe and the US. It is listed on the Premium Segment of the London Stock Exchange and included in the FTSE All-Share Index.
Energy storage technologies enhance power system stability and flexibility and are key tools for balancing out variability in renewable energy generation, facilitating the integration of more renewable energy supply into power grids.