Ithaca Energy (LON:ITH) Stock Price Down 13.1% – What’s Next?

Ithaca Energy plc (LON:ITH)’s stock price was down 13.1% during mid-day trading on Saturday . The stock traded as low as GBX 200 and last traded at GBX 203. Approximately 12,338,506 shares traded hands during mid-day trading, an increase of 502% from the average daily volume of 2,047,964 shares. The stock had previously closed at GBX 233.50.

Analysts Set New Price Targets

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

Ithaca Energy Stock Down 13.1%

The company has a 50 day moving average of GBX 204.87 and a two-hundred day moving average of GBX 180.39. The firm has a market cap of £3.34 billion and a P/E ratio of -19.15.

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.