Ithaca Energy (LON:ITH) Trading Down 11.2% - What's Next?

Key Points

• Ithaca Energy shares fell by 11.2%, trading at GBX 210.92 ($2.86), after previously closing at GBX 237.50 ($3.22).
• Trading volume surged to 117,362,914 shares, an increase of 5,072% compared to the average volume, indicating heightened investor activity.
• The company's market cap currently sits at £3.48 billion, with a notably high P/E ratio of -3,065.22, suggesting potential concerns over profitability.

Ithaca Energy plc (LON:ITH - Get Free Report) traded down 11.2% on Tuesday . The company traded as low as GBX 197 ($2.67) and last traded at GBX 210.92 ($2.86). 117,362,914 shares were traded during trading, an increase of 5,072% from the average session volume of 2,269,382 shares. The stock had previously closed at GBX 237.50 ($3.22).

Analyst Ratings Changes

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

Ithaca Energy Trading Down 10.9%

The stock has a 50 day simple moving average of GBX 176.33 and a 200 day simple moving average of GBX 153.06. The stock has a market cap of £3.48 billion and a P/E ratio of -3,065.22.

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.

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