Ithaca Energy (LON:ITH) Shares Down 13.3% - What's Next?

Key Points

• Ithaca Energy plc shares fell by 13.3% on Tuesday, closing at GBX 206 ($2.76) after trading as low as GBX 197 ($2.64).
• The stock experienced a trading volume increase of 314% compared to its average daily volume, with approximately 6.7 million shares changing hands.
• Shore Capital has reissued a "no recommendation" rating for Ithaca Energy, which has a market capitalization of £3.39 billion and a P/E ratio of -2,985.51.

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

Analyst Ratings Changes

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

Ithaca Energy Stock Performance

The company's fifty day simple moving average is GBX 176.33 and its 200-day simple moving average is GBX 153.06. The company has a market capitalization of £3.39 billion and a P/E ratio of -2,985.51.

About Ithaca Energy

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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