Ithaca Energy (LON:ITH) Reaches New 12-Month High - Time to Buy?

Key Points

• Ithaca Energy plc reached a new 52-week high at GBX 233 ($3.15), closing at GBX 231.26 ($3.12) with over 3.3 million shares traded.
• The company's market capitalization stands at £3.81 billion, although it has a high P/E ratio of -3,351.59.
• Shore Capital reissued a "not rated" rating on Ithaca Energy, indicating mixed sentiment among analysts regarding the stock's performance.

Ithaca Energy plc (LON:ITH - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as GBX 233 ($3.15) and last traded at GBX 231.26 ($3.12), with a volume of 3307377 shares traded. The stock had previously closed at GBX 232 ($3.13).

Wall Street Analyst Weigh In

Separately, Shore Capital reissued a "not rated" rating on shares of Ithaca Energy in a research note on Wednesday, August 20th.

Ithaca Energy Price Performance

The stock's 50 day moving average is GBX 175.08 and its 200-day moving average is GBX 152.32. The company has a market capitalization of £3.81 billion and a P/E ratio of -3,351.59.

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.

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