AFC Energy (LON:AFC) Shares Up 36.6% – Here’s What Happened

AFC Energy plc (LON:AFC)’s stock price was up 36.6% during mid-day trading on Wednesday . The company traded as high as GBX 12.90 ($0.17) and last traded at GBX 12.87 ($0.17). Approximately 19,112,072 shares were traded during trading, an increase of 566% from the average daily volume of 2,871,559 shares. The stock had previously closed at GBX 9.42 ($0.13).

AFC Energy Stock Performance

The firm’s fifty day moving average is GBX 7.83 and its 200-day moving average is GBX 8.52. The company has a current ratio of 4.87, a quick ratio of 12.18 and a debt-to-equity ratio of 2.13. The stock has a market capitalization of £110.13 million, a PE ratio of -4.92 and a beta of 2.96.

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

Insider Buying and Selling

In other AFC Energy news, insider Gary Bullard bought 155,657 shares of AFC Energy stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of GBX 10 ($0.14) per share, for a total transaction of £15,565.70 ($21,043.26). Also, insider Karl Bostock acquired 193,374 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of GBX 8 ($0.11) per share, for a total transaction of £15,469.92 ($20,913.78). In the last 90 days, insiders have bought 799,031 shares of company stock valued at $5,803,562. Corporate insiders own 16.21% of the company’s stock.

AFC Energy Company Profile

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.