Ithaca Energy (LON:ITH) Shares Down 13.1% – Here’s Why

by · The Cerbat Gem

Ithaca Energy plc (LON:ITH – Get Free Report)’s stock price fell 13.1% during trading on Saturday . The stock traded as low as GBX 200 and last traded at GBX 203. 12,338,506 shares traded hands during mid-day trading, an increase of 502% from the average session volume of 2,047,964 shares. The stock had previously closed at GBX 233.50.

Wall Street Analysts Forecast Growth

ITH has been the subject of a number of analyst reports. Peel Hunt restated a “buy” rating and set a GBX 200 target price on shares of Ithaca Energy in a report on Wednesday, September 17th. Shore Capital reissued a “no recommendation” rating on shares of Ithaca Energy in a report on Tuesday, September 2nd. Finally, Jefferies Financial Group upgraded shares of Ithaca Energy to a “buy” rating and boosted their target price for the company from GBX 145 to GBX 220 in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Ithaca Energy presently has a consensus rating of “Buy” and an average target price of GBX 210.

View Our Latest Stock Report on ITH

Ithaca Energy Stock Down 13.1%

The business’s 50-day simple moving average is GBX 204.87 and its two-hundred day simple moving average is GBX 179.70. The firm has a market capitalization of £3.34 billion and a price-to-earnings ratio of -19.15.

Ithaca Energy Company Profile

(Get Free Report)

Ithaca Energy is a leading UK independent exploration and production company focused on the UK North Sea with a strong track record of material value creation. In recent years, the Company has been focused on growing its portfolio of assets through both organic investment programmes and acquisitions and has seen a period of significant M&A driven growth centred upon two transformational acquisitions.

Featured Stories