Ithaca Energy (LON:ITH) Stock Price Down 13.3% - Here's What Happened

Key Points

• Ithaca Energy's share price fell by 13.3% to GBX 206 ($2.79) during mid-day trading, with trading volume up 314% compared to average levels.
• Wall Street analysts, including Shore Capital, have issued a "no recommendation" rating for the company's shares.
• Ithaca Energy is recognized as a leading UK independent exploration company with a market cap of £3.39 billion and a focus on growth through acquisitions and investments in the UK North Sea.

Ithaca Energy plc (LON:ITH - Get Free Report)'s share price was down 13.3% during mid-day trading on Tuesday . The company traded as low as GBX 197 ($2.67) and last traded at GBX 206 ($2.79). Approximately 6,685,744 shares were traded during trading, an increase of 314% from the average daily volume of 1,614,488 shares. The stock had previously closed at GBX 237.50 ($3.22).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a "no recommendation" rating on shares of Ithaca Energy in a research note on Tuesday.

Ithaca Energy Stock Performance

The firm has a 50 day simple moving average of GBX 176.33 and a 200 day simple moving average of GBX 153.06. The firm has a market cap of £3.39 billion and a P/E ratio of -2,985.51.

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.

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