Ithaca Energy (LON:ITH) Stock Price Down 10.6% - Should You Sell?

Key Points

• Ithaca Energy's stock suffered a significant drop of 10.6%, trading between GBX 197 ($2.67) and GBX 212.37 ($2.88) on the latest trading day.
• Analysts at Shore Capital have issued a "no recommendation" rating for Ithaca Energy, indicating uncertainty about the stock's performance.
• The company's market capitalization stands at £3.39 billion with a notably high price-to-earnings ratio of -2,983.33, reflecting potential challenges in profitability.

Shares of Ithaca Energy plc (LON:ITH - Get Free Report) traded down 10.6% during trading on Tuesday . The stock traded as low as GBX 197 ($2.67) and last traded at GBX 212.37 ($2.88). 118,184,203 shares changed hands during trading, an increase of 5,097% from the average session volume of 2,274,242 shares. The stock had previously closed at GBX 237.50 ($3.22).

Analysts Set New Price Targets

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

Ithaca Energy Price Performance

The firm has a market capitalization of £3.39 billion and a price-to-earnings ratio of -2,983.33. The stock's 50 day moving average price is GBX 176.33 and its two-hundred day moving average price is GBX 153.06.

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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