Ithaca Energy (LON:ITH) Trading Down 5.3% - Time to Sell?

Key Points

• Ithaca Energy's shares plummeted 5.3% to trade at GBX 188.20 ($2.53), significantly lower than the previous day's close of GBX 198.80 ($2.67).
• The trading volume surged to 12.3 million shares, which is a 631% increase compared to the average session volume of 1.7 million shares.
• Shore Capital has maintained a "no recommendation" rating on Ithaca Energy shares, indicating uncertain outlook from analysts.

Shares of Ithaca Energy plc (LON:ITH - Get Free Report) traded down 5.3% during trading on Thursday . The stock 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 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).

Analyst Upgrades and Downgrades

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

Ithaca Energy Stock Down 5.3%

The firm has a fifty day moving average of GBX 178.47 and a 200-day moving average of GBX 154.14. The firm has a market cap of £3.10 billion and a P/E ratio of -1,775.47.

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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