Ithaca Energy (LON:ITH) Stock Price Down 11.2% – Here’s Why

Ithaca Energy plc (LON:ITH)’s stock price dropped 11.2% during trading on Tuesday . The stock traded as low as GBX 197 ($2.67) and last traded at GBX 210.92 ($2.86). Approximately 117,362,914 shares were traded during trading, an increase of 5,072% from the average daily volume of 2,269,382 shares. The stock had previously closed at GBX 237.50 ($3.22).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a “not rated” rating on shares of Ithaca Energy in a report on Wednesday, August 20th.

Ithaca Energy Stock Performance

The firm has a market capitalization of £3.48 billion and a P/E ratio of -3,065.22. The stock’s 50 day simple moving average is GBX 176.33 and its 200 day simple moving average is GBX 153.06.

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.