Ithaca Energy (LON:ITH) Trading Down 13.3% - Should You Sell?

Key Points

• Ithaca Energy's stock price fell by 13.3%, closing at GBX 206 ($2.76) after trading as low as GBX 197 ($2.64), with significant trading volume of 6.68 million shares.
• The company's market cap is £3.39 billion, and it holds a P/E ratio of -2,985.51, reflecting potential challenges in profitability.
• Shore Capital maintained a "no recommendation" rating for Ithaca Energy, indicating uncertainty in the stock's future performance.

Ithaca Energy plc (LON:ITH - Get Free Report)'s stock price traded down 13.3% on Tuesday . The company traded as low as GBX 197 ($2.64) and last traded at GBX 206 ($2.76). 6,685,744 shares were traded during trading, an increase of 314% from the average session volume of 1,614,488 shares. The stock had previously closed at GBX 237.50 ($3.18).

Analyst Upgrades and Downgrades

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

Ithaca Energy Stock Down 13.3%

The business has a fifty day simple moving average of GBX 177.18 and a 200-day simple moving average of GBX 153.42. The firm has a market cap of £3.39 billion and a P/E ratio of -2,985.51.

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.

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