Ithaca Energy (LON:ITH) Stock Price Down 11.2% - Here's Why

Key Points

• Ithaca Energy's stock fell by 11.2% during mid-day trading, reaching a low of GBX 197 ($2.67) and closing at GBX 210.92 ($2.86) after previously closing at GBX 237.50 ($3.22).
• The trading volume of 117,362,914 shares represented a significant 5,072% increase from the average session volume of 2,269,382 shares.
• An analyst from Shore Capital restated a "not rated" rating on shares of Ithaca Energy, indicating uncertainty regarding the company's stock performance.

Ithaca Energy plc (LON:ITH - Get Free Report) fell 11.2% during mid-day trading on Tuesday . The stock traded as low as GBX 197 ($2.67) and last traded at GBX 210.92 ($2.86). 117,362,914 shares changed hands during trading, an increase of 5,072% from the average session volume of 2,269,382 shares. The stock had previously closed at GBX 237.50 ($3.22).

Analyst Upgrades and Downgrades

Separately, Shore Capital restated a "not rated" rating on shares of Ithaca Energy in a research report on Wednesday, August 20th.

Ithaca Energy Stock Performance

The company has a market capitalization of £3.48 billion and a P/E ratio of -3,065.22. The firm's fifty day moving average is GBX 176.33 and its 200 day moving average 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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