Ithaca Energy (LON:ITH) Trading Down 13.1% – Here’s What Happened

by · The Markets Daily

Ithaca Energy plc (LON:ITH – Get Free Report) traded down 13.1% during mid-day trading on Saturday . The stock traded as low as GBX 200 and last traded at GBX 203. 12,338,506 shares changed 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

A number of research firms have commented on ITH. Jefferies Financial Group raised Ithaca Energy to a “buy” rating and upped their price target for the company from GBX 145 to GBX 220 in a research report on Monday, October 20th. Peel Hunt reissued a “buy” rating and set a GBX 200 target price on shares of Ithaca Energy in a research note on Wednesday, September 17th. Finally, Shore Capital reaffirmed a “no recommendation” rating on shares of Ithaca Energy in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 210.

Read Our Latest Analysis on Ithaca Energy

Ithaca Energy Stock Performance

The company has a 50-day simple moving average of GBX 204.87 and a two-hundred day simple moving average of GBX 179.70. The firm has a market capitalization of £3.34 billion and a P/E ratio of -19.15.

About Ithaca Energy

(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.

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