Ithaca Energy (LON:ITH) Trading Down 13.1% – Should You Sell?

Ithaca Energy plc (LON:ITH)’s stock price fell 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 brokerages recently commented on ITH. Shore Capital reaffirmed a “no recommendation” rating on shares of Ithaca Energy in a research note on Tuesday, September 2nd. Peel Hunt restated a “buy” rating and set a GBX 200 target price on shares of Ithaca Energy in a research report on Wednesday, September 17th. Finally, Jefferies Financial Group upgraded shares of Ithaca Energy to a “buy” rating and increased their price target for the company from GBX 145 to GBX 220 in a research report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ithaca Energy has a consensus rating of “Buy” and an average price target of GBX 210.

Ithaca Energy Trading Down 13.1%

The company has a fifty day moving average price of GBX 204.87 and a two-hundred day moving average price of GBX 179.70. The firm has a market cap of £3.34 billion and a P/E 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.