Ithaca Energy (LON:ITH) Shares Up 10.4% – Still a Buy?

Ithaca Energy plc (LON:ITH) shares rose 10.4% during mid-day trading on Thursday . The stock traded as high as GBX 200.50 ($2.71) and last traded at GBX 196.80 ($2.66). Approximately 3,298,965 shares were traded during trading, an increase of 110% from the average daily volume of 1,571,092 shares. The stock had previously closed at GBX 178.20 ($2.41).

Wall Street Analyst Weigh In

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

Ithaca Energy Trading Up 3.3%

The firm has a market cap of £4.61 billion and a PE ratio of 25.24. The company has a 50-day simple moving average of GBX 169.82 and a 200 day simple moving average of GBX 148.76.

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.