Ithaca Energy (LON:ITH) Stock Price Down 13.1% – Time to Sell?

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

Analysts Set New Price Targets

ITH has been the subject of a number of recent analyst reports. Shore Capital restated a “no recommendation” rating on shares of Ithaca Energy in a report on Tuesday, September 2nd. Jefferies Financial Group raised shares of Ithaca Energy to a “buy” rating and boosted their price objective for the company from GBX 145 to GBX 220 in a research report on Monday, October 20th. Finally, Peel Hunt restated a “buy” rating and issued a GBX 200 price objective on shares of Ithaca Energy in a report on Wednesday, September 17th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock 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 market capitalization of £3.34 billion and a P/E ratio of -19.15. The company has a 50-day moving average of GBX 204.66 and a two-hundred day moving average of GBX 179.21.

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.