AFC Energy (LON:AFC) Trading Up 9.6% – Still a Buy?

AFC Energy plc (LON:AFC) was up 9.6% during mid-day trading on Friday . The company traded as high as GBX 15 and last traded at GBX 14.80. Approximately 12,837,146 shares changed hands during mid-day trading, an increase of 119% from the average daily volume of 5,852,148 shares. The stock had previously closed at GBX 13.50.

AFC Energy Stock Up 11.8%

The stock has a 50-day moving average of GBX 11.50 and a 200 day moving average of GBX 10.13. The company has a debt-to-equity ratio of 2.13, a current ratio of 4.87 and a quick ratio of 12.18. The company has a market cap of £170.95 million, a P/E ratio of -6.56 and a beta of 2.96.

About AFC Energy

AFC Energy plc (AIM: AFC) is a leading provider of ammonia-based low carbon hydrogen production and hydrogen-to-power solutions. Our market-leading decentralised ammonia cracker and fuel cell generator products are engineered to unlock the low carbon hydrogen market by meeting customers’ needs with scalable, reliable supplies of low carbon hydrogen and power that enable them to decarbonise at a price that is commercially viable and without reliance on government subsidies or incentives.

Our core strategy is to develop and deploy products that enable the production of scalable, reliable supplies of clean hydrogen at commercially viable prices and without reliance on government subsidies or incentives, through our proprietary, decentralised and modular ammonia cracker technology, and to provide low carbon, off grid power solutions with our fuel cell generators that are competitive with, and capable of displacing, diesel generators on a total cost of ownership basis.

We are focused on the successful commercial rollout of our core product suite and on creating significant shareholder value by converting our growing opportunity pipeline into contracted orders and delivering sustained revenue growth.