Ithaca Energy (LON:ITH) Trading Down 2.4% - Time to Sell?

Key Points

• Ithaca Energy shares fell 2.4% during mid-day trading, dropping to GBX 169.20 ($2.25) from a previous close of GBX 173.40 ($2.30).
• The stock's trading volume was significantly lower, with only 519,444 shares changing hands, representing a 68% decrease from the average volume.
• Ithaca Energy, a leading UK independent exploration and production company, has focused on growth through acquisitions and organic investments, particularly in the UK North Sea.

Ithaca Energy plc (LON:ITH - Get Free Report) dropped 2.4% during trading on Friday . The company traded as low as GBX 167.61 ($2.23) and last traded at GBX 169.20 ($2.25). Approximately 519,444 shares changed hands during trading, a decline of 68% from the average daily volume of 1,633,667 shares. The stock had previously closed at GBX 173.40 ($2.31).

Ithaca Energy Trading Up 2.3%

The business has a 50-day moving average price of GBX 160.54 and a 200 day moving average price of GBX 144.01. The stock has a market capitalization of £3.65 billion and a P/E ratio of 19.98.

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.