Ithaca Energy (LON:ITH) Shares Down 13.1% – What’s Next?

Ithaca Energy plc (LON:ITH)’s stock price 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.

Analyst Ratings Changes

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

Ithaca Energy Trading Down 13.1%

The company has a market cap of £3.34 billion and a P/E ratio of -19.15. The company’s 50-day moving average price is GBX 204.87 and its two-hundred day moving average price is GBX 179.70.

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.