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

Ithaca Energy plc (LON:ITH)’s share price traded down 13.1% during mid-day trading on Saturday . The company traded as low as GBX 200 and last traded at GBX 203. 12,338,506 shares traded 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.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Shore Capital reissued a “no recommendation” rating on shares of Ithaca Energy in a report on Tuesday, September 2nd. Jefferies Financial Group raised shares of Ithaca Energy to a “buy” rating and lifted their price objective for the company from GBX 145 to GBX 220 in a research note on Monday, October 20th. Finally, Peel Hunt restated a “buy” rating and set a GBX 200 price objective on shares of Ithaca Energy in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 210.

Ithaca Energy Stock Performance

The firm has a market cap of £3.34 billion and a P/E ratio of -19.15. The company’s 50 day moving average is GBX 204.87 and its 200 day moving average is GBX 179.70.

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.