AFC Energy (LON:AFC) Trading 31.6% Higher Following Insider Buying Activity

AFC Energy plc (LON:AFC)’s stock price rose 31.6% during trading on Tuesday following insider buying activity. The company traded as high as GBX 10.70 ($0.14) and last traded at GBX 10.66 ($0.14). Approximately 23,616,236 shares traded hands during mid-day trading, an increase of 720% from the average daily volume of 2,880,152 shares. The stock had previously closed at GBX 8.10 ($0.11).

Specifically, insider Gary Bullard purchased 500,000 shares of AFC Energy stock in a transaction dated Monday, November 4th. The stock was purchased at an average cost of GBX 9 ($0.12) per share, with a total value of £45,000 ($58,578.50).

AFC Energy Price Performance

The firm has a market capitalization of £85.95 million, a P/E ratio of -323.33 and a beta of 2.96. The stock’s fifty day simple moving average is GBX 10.55 and its 200 day simple moving average is GBX 15.21. The company has a debt-to-equity ratio of 2.13, a current ratio of 4.87 and a quick ratio of 12.18.

About AFC Energy

AFC Energy plc engages in the development of fuel cell and fuel processing technology and equipment in the United Kingdom. The company provides air cooled and liquid cooled fuel cells, including H-Power Tower, a S series fuel cell generator, and L series fuel cell generators. It is developing H-power generator S series fuel cell, a modular compact; H-power generator S+ series fuel cell diesel generator alternative; ammonia cracker, a technology to convert ammonia into hydrogen; and methanol fuel tower, a technology solution for conversion of carrier fuel methanol into hydrogen.