Ithaca Energy (LON:ITH) Trading Down 12.4% – Should You Sell?

Shares of Ithaca Energy plc (LON:ITH) were down 12.4% on Friday . The company traded as low as GBX 203 and last traded at GBX 204.50. Approximately 6,585,433 shares traded hands during mid-day trading, an increase of 226% from the average daily volume of 2,022,620 shares. The stock had previously closed at GBX 233.50.

Analyst Ratings Changes

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

Ithaca Energy Trading Down 13.1%

The firm has a market cap of £3.34 billion and a price-to-earnings ratio of -19.15. The firm’s 50-day moving average is GBX 204.87 and its 200-day moving average is GBX 180.04.

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.