Ithaca Energy (LON:ITH) Stock Price Down 12.8% – Should You Sell?

Ithaca Energy plc (LON:ITH) shares fell 12.8% on Friday . The company traded as low as GBX 200 and last traded at GBX 203.50. 9,511,281 shares were traded during trading, an increase of 367% from the average session volume of 2,035,510 shares. The stock had previously closed at GBX 233.50.

Wall Street Analyst Weigh In

ITH has been the subject of several recent analyst reports. Peel Hunt reaffirmed a “buy” rating and issued a GBX 200 target price on shares of Ithaca Energy in a report on Wednesday, September 17th. Jefferies Financial Group raised Ithaca Energy to a “buy” rating and upped their price objective for the stock from GBX 145 to GBX 220 in a research note on Monday, October 20th. Finally, Shore Capital reiterated a “no recommendation” rating on shares of Ithaca Energy in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 210.

Ithaca Energy Price Performance

The stock has a 50-day moving average price of GBX 204.66 and a two-hundred day moving average price of GBX 179.21. The stock has a market cap of £3.32 billion and a PE ratio of -18.99.

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.