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

Shares of Ithaca Energy plc (LON:ITH) were down 13.1% during mid-day trading on Friday . The company traded as low as GBX 200 and last traded at GBX 203. Approximately 12,338,506 shares traded hands during mid-day trading, an increase of 502% from the average daily volume of 2,047,964 shares. The stock had previously closed at GBX 233.50.

Analyst Ratings Changes

ITH has been the subject of several recent analyst reports. Peel Hunt reiterated a “buy” rating and issued a GBX 200 target price on shares of Ithaca Energy in a research note on Wednesday, September 17th. Shore Capital reaffirmed a “no recommendation” rating on shares of Ithaca Energy in a research report on Tuesday, September 2nd. Finally, Jefferies Financial Group raised Ithaca Energy to a “buy” rating and boosted their target price for the stock from GBX 145 to GBX 220 in a report on Monday, October 20th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 210.

Ithaca Energy Stock Performance

The company’s fifty day simple moving average is GBX 204.87 and its two-hundred day simple moving average is GBX 180.04. The stock has a market capitalization 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.