Ithaca Energy (LON:ITH) Shares Up 9.3% – Should You Buy?

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

Ithaca Energy Price Performance

The stock has a market capitalization of £2.99 billion and a P/E ratio of 16.38. The company’s 50-day simple moving average is GBX 123.77 and its 200-day simple moving average is GBX 115.29.

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.