Ithaca Energy (LON:ITH) Stock Price Down 5.3% - Time to Sell?

Key Points

• Ithaca Energy's stock traded down 5.3% on Friday, closing at GBX 188.20 ($2.53), with trading volume significantly increased to 12,277,204 shares.
• Shore Capital has restated a "no recommendation" rating on Ithaca Energy shares, indicating uncertainty in future performance.
• The company has a market capitalization of £3.13 billion and is focused on growth through organic investments and acquisitions in the UK North Sea.

Ithaca Energy plc (LON:ITH - Get Free Report) traded down 5.3% on Friday . The company traded as low as GBX 182.80 ($2.46) and last traded at GBX 188.20 ($2.53). 12,277,204 shares traded 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).

Wall Street Analyst Weigh In

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

Ithaca Energy Trading Up 1.1%

The stock's fifty day moving average is GBX 178.47 and its 200 day moving average is GBX 154.14. The company has a market capitalization of £3.13 billion and a P/E ratio of -1,794.34.

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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