Ithaca Energy (LON:ITH) Trading 10.4% Higher - Time to Buy?

Key Points

• Ithaca Energy stock price increased by 10.4%, reaching a high of GBX 200.50 during trading on Thursday, with a significant 110% rise in trading volume compared to its average daily volume.
• The company's market capitalization stands at £4.43 billion with a price-to-earnings ratio of 24.27, indicating solid financial metrics.
• Analysts from Shore Capital reaffirmed a "not rated" rating on Ithaca Energy shares, suggesting a cautious outlook amidst the recent stock performance.

Ithaca Energy plc (LON:ITH - Get Free Report)'s share price traded up 10.4% on Thursday . The company traded as high as GBX 200.50 ($2.71) and last traded at GBX 196.80 ($2.66). 3,298,965 shares were traded during mid-day trading, an increase of 110% from the average session volume of 1,571,092 shares. The stock had previously closed at GBX 178.20 ($2.41).

Analyst Ratings Changes

Separately, Shore Capital restated a "not rated" rating on shares of Ithaca Energy in a report on Wednesday, August 20th.

Ithaca Energy Stock Performance

The company has a market capitalization of £4.61 billion and a P/E ratio of 25.24. The firm's fifty day moving average is GBX 169.82 and its 200 day moving average is GBX 149.04.

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.