Ithaca Energy (LON:ITH) Shares Up 8.7% - Here's Why

Key Points

• Ithaca Energy shares rose 8.7% on Friday, reaching a high of GBX 215 ($2.88) and closing at GBX 214 ($2.87).
• Trading volume increased by 58% compared to the average session, with nearly 2.5 million shares exchanged.
• The company's market capitalization stands at £4.52 billion, with a price-to-earnings ratio of 24.72, highlighting its strong position in the UK North Sea energy sector.

Ithaca Energy plc (LON:ITH - Get Free Report)'s stock price traded up 8.7% on Friday . The stock traded as high as GBX 215 ($2.88) and last traded at GBX 214 ($2.87). 2,496,824 shares traded hands during trading, an increase of 58% from the average session volume of 1,576,806 shares. The stock had previously closed at GBX 196.80 ($2.64).

Analyst Upgrades and Downgrades

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

Ithaca Energy Trading Up 1.2%

The firm has a fifty day simple moving average of GBX 168.66 and a 200 day simple moving average of GBX 148.11. The stock has a market cap of £4.52 billion and a price-to-earnings ratio of 24.72.

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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