Ithaca Energy (LON:ITH) Trading Up 10.8% - What's Next?

Key Points

• Ithaca Energy plc saw its stock price increase by 10.8%, closing at GBX 197.40 ($2.66), after trading as high as GBX 198.20 ($2.67).
• The stock volume rose significantly, with 4.3 million shares traded, marking a 174% increase from its average trading volume.
• Ithaca Energy, a UK independent exploration and production company, has focused on growing its asset portfolio through acquisitions and organic investments.

Shares of Ithaca Energy plc (LON:ITH - Get Free Report) rose 10.8% during trading on Wednesday . The company traded as high as GBX 198.20 ($2.68) and last traded at GBX 197.40 ($2.67). Approximately 4,318,993 shares were traded during trading, an increase of 174% from the average daily volume of 1,577,427 shares. The stock had previously closed at GBX 178.20 ($2.41).

Analyst Ratings Changes

Separately, Shore Capital reiterated a "not rated" rating on shares of Ithaca Energy in a report on Wednesday.

Ithaca Energy Price Performance

The business has a 50 day moving average of GBX 169.82 and a 200 day moving average of GBX 148.91. The firm has a market capitalization of £4.61 billion and a price-to-earnings ratio of 25.24.

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.