Ithaca Energy (LON:ITH) Trading Down 13.1% – Time to Sell?

Ithaca Energy plc (LON:ITH)’s stock price traded down 13.1% during trading on Friday . 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.

Analyst Ratings Changes

Several analysts have issued reports on ITH shares. 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 note on Monday, October 20th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 200 price objective on shares of Ithaca Energy in a report 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, According to MarketBeat.com, Ithaca Energy currently has a consensus rating of “Buy” and an average price target of GBX 210.

Ithaca Energy Stock Performance

The stock’s 50-day simple moving average is GBX 204.66 and its two-hundred day simple moving average is GBX 179.21. The stock has a market cap of £3.34 billion and a price-to-earnings ratio of -19.15.

Ithaca Energy Company Profile

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.