AFC Energy (LON:AFC) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Key Points

• AFC Energy's stock price surpassed its 50-day moving average, hitting a peak of GBX 10.10 ($0.14) before closing at GBX 9.80 ($0.13).
• Peel Hunt has maintained a "buy" rating on AFC Energy, contributing to a consensus "buy" rating from analysts on the stock.
• Insider Gary Bullard purchased 400,000 shares at GBX 10 each, indicating insider confidence in the company's performance.

AFC Energy plc (LON:AFC - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 9.47 ($0.13) and traded as high as GBX 10.10 ($0.14). AFC Energy shares last traded at GBX 9.80 ($0.13), with a volume of 1,802,323 shares trading hands.

Analysts Set New Price Targets

Separately, Peel Hunt reiterated a "buy" rating on shares of AFC Energy in a research note on Monday, September 15th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, AFC Energy has a consensus rating of "Buy".

AFC Energy Price Performance

The stock has a market capitalization of £108.12 million, a P/E ratio of -415.43 and a beta of 2.96. The company has a debt-to-equity ratio of 2.13, a quick ratio of 12.18 and a current ratio of 4.87. The firm has a 50-day moving average price of GBX 9.47 and a 200 day moving average price of GBX 9.91.

AFC Energy (LON:AFC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported GBX (1.19) earnings per share for the quarter. AFC Energy had a negative net margin of 4,502.53% and a negative return on equity of 71.96%. On average, analysts expect that AFC Energy plc will post -1.9 EPS for the current year.

Insider Transactions at AFC Energy

In related news, insider Gary Bullard purchased 400,000 shares of AFC Energy stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average cost of GBX 10 per share, for a total transaction of £40,000. 4.41% of the stock is currently owned by insiders.

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.

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