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

Key Points

• Ithaca Energy's stock price experienced a significant drop of 13.3% during mid-day trading, closing at GBX 206 ($2.76) after falling as low as GBX 197 ($2.64).
• The trading volume surged to approximately 6.7 million shares, an increase of 314% from its average daily volume of about 1.6 million shares.
• Shore Capital has reiterated a "no recommendation" rating on Ithaca Energy shares, indicating no specific investment advice at this time.

Ithaca Energy plc (LON:ITH - Get Free Report)'s share price traded down 13.3% during trading on Tuesday . The company traded as low as GBX 197 ($2.66) and last traded at GBX 206 ($2.78). 6,685,744 shares traded hands during mid-day trading, an increase of 314% from the average session volume of 1,614,488 shares. The stock had previously closed at GBX 237.50 ($3.21).

Analysts Set New Price Targets

Separately, Shore Capital reiterated a "no recommendation" rating on shares of Ithaca Energy in a research note on Tuesday, September 2nd.

Ithaca Energy Stock Down 1.4%

The stock has a market capitalization of £3.06 billion and a PE ratio of -1,750.94. The firm has a 50 day moving average price of GBX 179.02 and a 200-day moving average price of GBX 154.69.

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.