AFC Energy (LON:AFC) Shares Up 31.6% Following Insider Buying Activity

Shares of AFC Energy plc (LON:AFC) were up 31.6% during mid-day trading on Tuesday following insider buying activity. The stock traded as high as GBX 10.70 ($0.14) and last traded at GBX 10.66 ($0.14). Approximately 23,616,236 shares changed hands during 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 bought 500,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of GBX 9 ($0.12) per share, for a total transaction of £45,000 ($58,578.50).

AFC Energy Stock Up 3.7 %

The firm has a market capitalization of £85.95 million, a price-to-earnings ratio of -323.33 and a beta of 2.96. The company has a quick ratio of 12.18, a current ratio of 4.87 and a debt-to-equity ratio of 2.13. The company’s 50 day moving average price is GBX 10.55 and its 200 day moving average price is GBX 15.21.

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.