Ithaca Energy (LON:ITH) Trading Down 13.3% - What's Next?

Key Points

• Ithaca Energy (LON:ITH) saw a significant decline of 13.3% during mid-day trading, with stock prices dropping from GBX 237.50 ($3.18) to as low as GBX 197 ($2.64).
• The company's market capitalization is £3.39 billion and it currently has a dramatic price-to-earnings ratio of -2,985.51.
• Shore Capital has reissued a "no recommendation" rating on Ithaca Energy, indicating uncertainty in the stock's outlook.

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

Analysts Set New Price Targets

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

Ithaca Energy Stock Performance

The stock has a market capitalization of £3.39 billion and a price-to-earnings ratio of -2,985.51. The business's 50 day simple moving average is GBX 176.33 and its 200-day simple moving average is GBX 153.06.

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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