Ithaca Energy (LON:ITH) Shares Up 9.3% – Here’s Why

Shares of Ithaca Energy plc (LON:ITH) were up 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 Stock Up 9.3 %

The business has a fifty day simple moving average of GBX 123.77 and a two-hundred day simple moving average of GBX 115.29. The company has a market cap of £2.99 billion and a P/E ratio of 16.38.

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.