Ithaca Energy (LON:ITH) Trading Up 9.3% – Still a Buy?

Shares of Ithaca Energy plc (LON:ITH) rose 9.3% on Thursday . The company traded as high as GBX 148.78 ($1.89) and last traded at GBX 143.40 ($1.82). Approximately 2,867,246 shares traded hands during mid-day trading, an increase of 71% from the average daily volume of 1,677,731 shares. The stock had previously closed at GBX 131.20 ($1.66).

Ithaca Energy Trading Up 9.3 %

The business has a 50-day moving average price of GBX 123.77 and a 200-day moving average price of GBX 115.29. The firm has a market cap of £2.99 billion and a P/E ratio of 16.38.

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.