Ithaca Energy (LON:ITH) Trading Down 11.3% - Should You Sell?

Key Points

• Ithaca Energy shares fell by 11.3%, trading as low as GBX 197 ($2.67) before recovering to GBX 210.57 ($2.85), with a trading volume surge of 5,079% compared to the average daily volume.
• Shore Capital has reissued a "not rated" rating on Ithaca Energy's shares, indicating a lack of clear investor guidance.
• The company has a market capitalization of £3.47 billion and a negative PE ratio of -3,051.80, reflecting its current financial performance challenges.

Ithaca Energy plc (LON:ITH - Get Free Report) fell 11.3% during trading on Tuesday . The company traded as low as GBX 197 ($2.66) and last traded at GBX 210.57 ($2.84). 117,608,313 shares changed hands during trading, an increase of 5,079% from the average session volume of 2,270,834 shares. The stock had previously closed at GBX 237.50 ($3.21).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a "no recommendation" rating on shares of Ithaca Energy in a research report on Tuesday.

Ithaca Energy Price Performance

The company has a market capitalization of £3.06 billion and a price-to-earnings ratio of -1,750.94. The stock's fifty day simple moving average is GBX 179.02 and its two-hundred day simple moving average is GBX 154.52.

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.