Ithaca Energy (LON:ITH) Shares Up 8.7% - Time to Buy?

Key Points

• Ithaca Energy's stock price rose by 8.7% during Thursday's trading, with shares reaching GBX 215 ($2.88) before closing at GBX 214 ($2.87).
• The company's trading volume peaked at 2,496,824 shares, representing a 58% increase compared to the average session volume of 1,576,806 shares.
• Ithaca Energy has a market capitalization of £4.52 billion and maintains a P/E ratio of 24.72, reflecting its position as a significant player in the UK North Sea energy market.

Ithaca Energy plc (LON:ITH - Get Free Report) rose 8.7% on Thursday . The company traded as high as GBX 215 ($2.90) and last traded at GBX 214 ($2.89). Approximately 2,496,824 shares were traded during trading, an increase of 58% from the average daily volume of 1,576,806 shares. The stock had previously closed at GBX 196.80 ($2.66).

Analyst Upgrades and Downgrades

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

Ithaca Energy Stock Performance

The stock has a 50 day moving average of GBX 173.04 and a two-hundred day moving average of GBX 150.70. The stock has a market cap of £4.71 billion and a PE ratio of 25.81.

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.