Ithaca Energy (LON:ITH) Stock Price Down 13.1% – Here’s What Happened

Ithaca Energy plc (LON:ITH)’s stock price was down 13.1% during mid-day trading on Friday . The stock traded as low as GBX 200 and last traded at GBX 203. Approximately 12,338,506 shares were traded during trading, an increase of 502% from the average daily volume of 2,047,964 shares. The stock had previously closed at GBX 233.50.

Analyst Upgrades and Downgrades

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

Ithaca Energy Trading Down 13.1%

The company has a market cap of £3.34 billion and a price-to-earnings ratio of -19.15. The stock has a 50 day moving average price of GBX 204.87 and a two-hundred day moving average price of GBX 179.70.

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.