Ithaca Energy (LON:ITH) Trading 10.4% Higher - What's Next?

Key Points

• Ithaca Energy's shares surged by 10.4% on Thursday, reaching a high of GBX 200.50 ($2.70) before closing at GBX 196.80 ($2.65).
• The stock's trading volume increased significantly to 3,298,965 shares, which is a 110% rise from its average session volume.
• Ithaca Energy has a market capitalization of £4.42 billion and a P/E ratio of 24.21, reflecting its growth focus through both acquisitions and organic investment programs.

Ithaca Energy plc (LON:ITH - Get Free Report)'s share price traded up 10.4% during trading on Thursday . The company traded as high as GBX 200.50 ($2.71) and last traded at GBX 196.80 ($2.66). 3,298,965 shares changed hands during trading, an increase of 110% from the average session volume of 1,571,092 shares. The stock had previously closed at GBX 178.20 ($2.41).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a "not rated" rating on shares of Ithaca Energy in a report on Wednesday.

Ithaca Energy Stock Up 3.3%

The firm has a market cap of £4.61 billion and a P/E ratio of 25.24. The business has a fifty day moving average of GBX 169.82 and a 200 day moving average of GBX 148.91.

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.