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

Shares of Ithaca Energy plc (LON:ITH) fell 13.1% on Saturday . The company traded as low as GBX 200 and last traded at GBX 203. 12,338,506 shares changed hands during 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

ITH has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of 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. Peel Hunt restated a “buy” rating and issued a GBX 200 price target 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 report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Ithaca Energy currently has an average rating of “Buy” and a consensus target price of GBX 210.

Ithaca Energy Stock Performance

The company has a 50 day moving average of GBX 204.87 and a two-hundred day moving average of GBX 179.70. The stock has a market capitalization of £3.34 billion and a PE ratio of -19.15.

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.