Ithaca Energy (LON:ITH) Shares Down 12.8% – Here’s Why

Shares of Ithaca Energy plc (LON:ITH) traded down 12.8% during trading on Tuesday . The stock traded as low as GBX 197 ($2.67) and last traded at GBX 207 ($2.80). 119,082,617 shares were traded during mid-day trading, an increase of 5,124% from the average session volume of 2,279,558 shares. The stock had previously closed at GBX 237.50 ($3.22).

Analyst Ratings Changes

Separately, Shore Capital restated a “no recommendation” rating on shares of Ithaca Energy in a research note on Tuesday.

Ithaca Energy Stock Performance

The company’s fifty day simple moving average is GBX 176.33 and its two-hundred day simple moving average is GBX 153.06. The stock has a market capitalization of £3.39 billion and a PE ratio of -2,985.51.

About Ithaca Energy

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.