Ithaca Energy (LON:ITH) Trading Up 10.4% – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

Ithaca Energy Stock Up 3.3%

The business has a fifty day simple moving average of GBX 169.82 and a 200-day simple moving average of GBX 148.76. The firm has a market cap of £4.61 billion and a P/E ratio of 25.24.

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.