Ithaca Energy (LON:ITH) Shares Down 13.1% – What’s Next?

Ithaca Energy plc (LON:ITH) 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 changed hands during mid-day 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 research analysts have commented on ITH shares. Peel Hunt reissued a “buy” rating and set a GBX 200 price objective on shares of Ithaca Energy in a report on Wednesday, September 17th. Shore Capital reiterated a “no recommendation” rating on shares of Ithaca Energy in a research report on Tuesday, September 2nd. Finally, Jefferies Financial Group raised Ithaca Energy to a “buy” rating and increased their price target for the company from GBX 145 to GBX 220 in a research note on Monday, October 20th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of GBX 210.

Ithaca Energy Stock Performance

The business’s fifty day moving average price is GBX 204.87 and its two-hundred day moving average price is GBX 179.70. The stock has a market capitalization 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.