Ithaca Energy (LON:ITH) Shares Down 13.1% – Time to Sell?

Shares of Ithaca Energy plc (LON:ITH) traded down 13.1% on Friday . The company traded as low as GBX 200 and last traded at GBX 203. 12,338,506 shares were traded 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

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

Ithaca Energy Trading Down 13.1%

The business’s 50-day moving average is GBX 204.66 and its two-hundred day moving average is GBX 179.21. The firm has a market cap of £3.34 billion and a P/E ratio of -19.15.

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.