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

Key Points

• Ithaca Energy plc saw a significant drop in its stock price, falling by 13.3%, with shares trading as low as GBX 197 ($2.67).
• The trading volume increased by 314% compared to the average daily volume, indicating heightened investor activity.
• Shore Capital has issued a "no recommendation" rating on Ithaca Energy, reflecting uncertainty about the stock's future performance.

Ithaca Energy plc (LON:ITH - Get Free Report) fell 13.3% during trading on Tuesday . The stock traded as low as GBX 197 ($2.66) and last traded at GBX 206 ($2.78). 6,685,744 shares changed 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).

Analyst Ratings Changes

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

Ithaca Energy Trading Down 1.4%

The stock has a market cap of £3.06 billion and a PE ratio of -1,750.94. The firm has a fifty day simple moving average of GBX 179.02 and a two-hundred day simple moving average 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.