Ithaca Energy (LON:ITH) Stock Price Down 5.3% - Here's Why

Key Points

• Ithaca Energy plc shares fell by 5.3%, trading as low as GBX 182.80 ($2.46) and closing at GBX 188.20 ($2.53), with trading volume surging 631% above average.
• Shore Capital has maintained a "no recommendation" rating on Ithaca Energy shares in a recent research report.
• The company's market capitalization stands at £3.10 billion with a significantly high PE ratio of -1,775.47, indicating potential concerns about profitability.

Shares of Ithaca Energy plc (LON:ITH - Get Free Report) traded down 5.3% during mid-day trading on Thursday . The company traded as low as GBX 182.80 ($2.46) and last traded at GBX 188.20 ($2.53). 12,277,204 shares changed hands during trading, an increase of 631% from the average session volume of 1,679,197 shares. The stock had previously closed at GBX 198.80 ($2.67).

Analyst Upgrades and Downgrades

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

Ithaca Energy Price Performance

The stock has a market capitalization of £3.10 billion and a PE ratio of -1,775.47. The business's fifty day moving average price is GBX 178.47 and its two-hundred day moving average price is GBX 154.14.

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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