Gore Street Energy Storage Fund (LON:GSF) Stock Price Down 0.9% – Here’s What Happened

Shares of Gore Street Energy Storage Fund (LON:GSF) were down 0.9% during mid-day trading on Tuesday . The company traded as low as GBX 53 and last traded at GBX 53.50. Approximately 6,577,532 shares traded hands 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 Analysts Forecast Growth

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

Gore Street Energy Storage Fund Stock Down 0.9%

The company has a market capitalization of £270.23 million, a P/E ratio of -8.43 and a beta of 0.31. The company’s 50-day simple moving average is GBX 54.38 and its 200 day simple moving average is GBX 57.47.

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

Insider Activity at Gore Street Energy Storage Fund

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

About Gore Street Energy Storage Fund

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.