Ithaca Energy (LON:ITH) Shares Down 13.3% - Should You Sell?

Key Points

• Ithaca Energy's stock price dropped 13.3%, closing at GBX 206 ($2.76) after trading as low as GBX 197 ($2.64) on high volume of 6,685,744 shares.
• Shore Capital has reiterated a "no recommendation" rating for Ithaca Energy, indicating a lack of definitive guidance for investors.
• Ithaca Energy has a market capitalization of £3.39 billion and is focused on growing its asset portfolio through investment and acquisitions in the UK North Sea.

Ithaca Energy plc (LON:ITH - Get Free Report)'s stock price fell 13.3% during trading on Tuesday . The company traded as low as GBX 197 ($2.64) and last traded at GBX 206 ($2.76). 6,685,744 shares traded hands during trading, an increase of 314% from the average session volume of 1,614,488 shares. The stock had previously closed at GBX 237.50 ($3.18).

Wall Street Analyst Weigh In

Separately, Shore Capital reiterated a "no recommendation" rating on shares of Ithaca Energy in a research report on Tuesday.

Ithaca Energy Stock Performance

The firm's 50 day simple moving average is GBX 177.18 and its 200-day simple moving average is GBX 153.42. The company has a market capitalization of £3.39 billion and a price-to-earnings ratio of -2,985.51.

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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