Ithaca Energy (LON:ITH) Trading Up 10.4% – Should You Buy?

Shares of Ithaca Energy plc (LON:ITH) shot up 10.4% during trading on Wednesday . The company traded as high as GBX 200.50 ($2.70) and last traded at GBX 196.80 ($2.65). 3,298,965 shares were traded during trading, an increase of 110% from the average session volume of 1,571,092 shares. The stock had previously closed at GBX 178.20 ($2.40).

Analyst Ratings Changes

Separately, Shore Capital reaffirmed a “not rated” rating on shares of Ithaca Energy in a research report on Wednesday.

Ithaca Energy Price Performance

The stock’s 50-day simple moving average is GBX 167.48 and its 200 day simple moving average is GBX 147.51. The stock has a market capitalization of £4.41 billion and a P/E ratio of 24.16.

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.