Ithaca Energy (LON:ITH) Trading 9.1% Higher - What's Next?

Key Points

• Ithaca Energy plc saw its stock rise by 9.1%, reaching GBX 194.40 ($2.62), with a significant trading volume of approximately 4.01 million shares, up 155% from its average daily volume.
• The company's market capitalization stands at £4.05 billion with a price-to-earnings ratio of 22.20, indicating strong financial performance.
• Ithaca Energy has focused on expanding its asset portfolio through organic investments and transformational acquisitions, solidifying its position in the UK North Sea energy sector.

Ithaca Energy plc (LON:ITH - Get Free Report) traded up 9.1% on Wednesday . The company traded as high as GBX 195 ($2.64) and last traded at GBX 194.40 ($2.63). 4,010,399 shares were traded during trading, an increase of 155% from the average session volume of 1,575,511 shares. The stock had previously closed at GBX 178.20 ($2.41).

Analyst Upgrades and Downgrades

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

Ithaca Energy Stock Up 3.3%

The stock has a market capitalization of £4.61 billion and a P/E ratio of 25.24. The firm's 50 day simple moving average is GBX 169.82 and its two-hundred day simple 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.