Ithaca Energy (LON:ITH) Trading Down 13.3% - Time to Sell?

Key Points

• Ithaca Energy shares fell by 13.3% on Tuesday, trading as low as GBX 197 ($2.67) after closing at GBX 237.50 ($3.22) the previous day.
• The company has a market capitalization of £3.39 billion and a notably high P/E ratio of -2,985.51.
• Shore Capital reaffirmed a "no recommendation" rating on Ithaca Energy's shares, suggesting caution among analysts regarding its stock performance.

Ithaca Energy plc (LON:ITH - Get Free Report) traded down 13.3% on Tuesday . The company traded as low as GBX 197 ($2.67) and last traded at GBX 206 ($2.79). 6,685,744 shares traded hands 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 ($3.22).

Wall Street Analyst Weigh In

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

Ithaca Energy Trading Down 13.3%

The company has a market cap of £3.39 billion and a P/E ratio of -2,985.51. The stock's 50-day moving average price is GBX 176.33 and its 200-day moving average price is GBX 153.06.

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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