AFC Energy (LON:AFC) Stock Price Up 7.6% – Here’s Why

Shares of AFC Energy plc (LON:AFC) rose 7.6% during mid-day trading on Friday . The stock traded as high as GBX 6.85 ($0.09) and last traded at GBX 6.47 ($0.08). Approximately 195,544 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 2,523,014 shares. The stock had previously closed at GBX 6.01 ($0.08).

AFC Energy Trading Up 11.5 %

The stock has a fifty day simple moving average of GBX 7.26 and a 200 day simple moving average of GBX 8.77. The company has a debt-to-equity ratio of 2.13, a quick ratio of 12.18 and a current ratio of 4.87. The firm has a market cap of £57.33 million, a P/E ratio of -2.56 and a beta of 2.96.

AFC Energy (LON:AFC) last released its quarterly earnings data on Thursday, March 20th. The company reported GBX (2.36) (($0.03)) EPS for the quarter. AFC Energy had a negative return on equity of 71.96% and a negative net margin of 4,502.53%. On average, research analysts expect that AFC Energy plc will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Karl Bostock acquired 250,000 shares of AFC Energy stock in a transaction dated Thursday, February 6th. The stock was purchased at an average cost of GBX 9 ($0.12) per share, for a total transaction of £22,500 ($29,450.26). Also, insider Gary Bullard bought 350,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average price of GBX 6 ($0.08) per share, for a total transaction of £21,000 ($27,486.91). In the last quarter, insiders purchased 700,000 shares of company stock valued at $4,950,000. Company insiders own 16.21% of the company’s stock.

About AFC Energy

AFC Energy plc is a leading provider of hydrogen fuel cell power systems to generate clean energy in support of the global energy transition.

Based in the UK, the Company’s scalable systems provide off-grid, zero emission power that are already being deployed for rapid electric vehicle charging and the replacement of diesel generators for temporary power applications.