Ithaca Energy (LON:ITH) Stock Price Up 8.7% – Should You Buy?

Ithaca Energy plc (LON:ITH)’s stock price rose 8.7% during trading on Friday . The stock traded as high as GBX 215 ($2.91) and last traded at GBX 214 ($2.89). Approximately 2,496,824 shares traded hands during mid-day trading, an increase of 58% from the average daily volume of 1,576,806 shares. The stock had previously closed at GBX 196.80 ($2.66).

Analysts Set New Price Targets

Separately, Shore Capital reiterated a “not rated” rating on shares of Ithaca Energy in a research note on Wednesday.

Ithaca Energy Trading Up 3.3%

The firm has a market cap of £4.61 billion and a PE ratio of 25.24. The stock has a 50 day simple moving average of GBX 169.82 and a 200-day simple moving average of GBX 148.91.

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.