AFC Energy (LON:AFC) Shares Down 15.4% – Here’s Why

AFC Energy plc (LON:AFC) was down 15.4% during mid-day trading on Tuesday . The company traded as low as GBX 5 ($0.06) and last traded at GBX 5.50 ($0.07). Approximately 9,695,354 shares changed hands during mid-day trading, an increase of 272% from the average daily volume of 2,605,921 shares. The stock had previously closed at GBX 6.50 ($0.08).

AFC Energy Price Performance

The company has a fifty day moving average of GBX 8.08 and a 200-day moving average of GBX 9.34. The stock has a market cap of £50.49 million, a PE ratio of -2.26 and a beta of 2.96. The company has a current ratio of 4.87, a quick ratio of 12.18 and a debt-to-equity ratio of 2.13.

AFC Energy (LON:AFC) last posted its quarterly earnings results 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%. Sell-side analysts expect that AFC Energy plc will post -1.9 EPS for the current fiscal year.

Insider Activity

In other news, insider Karl Bostock acquired 250,000 shares of AFC Energy stock in a transaction on Thursday, February 6th. The stock was bought at an average price of GBX 9 ($0.12) per share, for a total transaction of £22,500 ($28,968.71). Also, insider Gary Bullard purchased 100,000 shares of AFC Energy stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of GBX 6 ($0.08) per share, with a total value of £6,000 ($7,724.99). In the last 90 days, insiders have acquired 700,000 shares of company stock worth $4,950,000. 16.21% of the stock is currently owned by insiders.

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.