Ithaca Energy (LON:ITH) Trading Down 5.3% - Here's What Happened

Key Points

• Ithaca Energy plc shares dropped 5.3% on Thursday, reaching a low of GBX 182.80 ($2.46) and closing at GBX 188.20 ($2.53).
• The company experienced a significant trading volume of 12,277,204 shares, up 631% from its average session volume of 1,679,197 shares.
• Shore Capital issued a "no recommendation" rating on Ithaca Energy, despite the company's ongoing focus on growth through acquisitions in the UK North Sea.

Shares of Ithaca Energy plc (LON:ITH - Get Free Report) fell 5.3% on Thursday . The company traded as low as GBX 182.80 ($2.46) and last traded at GBX 188.20 ($2.53). 12,277,204 shares were traded during mid-day trading, an increase of 631% from the average session volume of 1,679,197 shares. The stock had previously closed at GBX 198.80 ($2.67).

Wall Street Analysts Forecast Growth

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

Ithaca Energy Stock Performance

The stock has a fifty day simple moving average of GBX 178.47 and a 200-day simple moving average of GBX 154.14. The stock has a market cap of £3.14 billion and a P/E ratio of -1,798.11.

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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