Ithaca Energy (LON:ITH) Trading Down 13.1% – Should You Sell?

Shares of Ithaca Energy plc (LON:ITHGet Free Report) traded down 13.1% during trading on Saturday . The company traded as low as GBX 200 and last traded at GBX 203. 12,338,506 shares changed hands during trading, an increase of 502% from the average session volume of 2,047,964 shares. The stock had previously closed at GBX 233.50.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Jefferies Financial Group upgraded Ithaca Energy to a “buy” rating and boosted their price target for the stock from GBX 145 to GBX 220 in a report on Monday, October 20th. Peel Hunt reissued a “buy” rating and set a GBX 200 target price on shares of Ithaca Energy in a report on Wednesday, September 17th. Finally, Shore Capital restated a “no recommendation” rating on shares of Ithaca Energy in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Ithaca Energy presently has a consensus rating of “Buy” and an average target price of GBX 210.

Check Out Our Latest Stock Analysis on ITH

Ithaca Energy Price Performance

The stock has a 50-day moving average price of GBX 204.87 and a 200-day moving average price of GBX 179.70. The company has a market capitalization of £3.34 billion and a P/E ratio of -19.15.

Ithaca Energy Company Profile

(Get Free Report)

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.

Further Reading

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