Indonesia Energy (NYSE:INDO) Trading 3% Higher – Here’s Why

by · The Cerbat Gem

Indonesia Energy Co. Limited (NYSE:INDO – Get Free Report)’s stock price shot up 3% during mid-day trading on Friday . The company traded as high as $2.75 and last traded at $2.73. 245,241 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,904,635 shares. The stock had previously closed at $2.65.

Indonesia Energy Stock Up 3.0%

The company has a 50 day moving average price of $2.99 and a 200-day moving average price of $3.55.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. bought a new position in shares of Indonesia Energy in the first quarter worth about $53,000. Virtu Financial LLC grew its holdings in shares of Indonesia Energy by 50.2% during the 4th quarter. Virtu Financial LLC now owns 15,115 shares of the company’s stock valued at $44,000 after purchasing an additional 5,054 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Indonesia Energy during the 4th quarter valued at approximately $90,000. T3 Companies LLC acquired a new position in Indonesia Energy during the 4th quarter worth approximately $71,000. Finally, R Squared Ltd increased its position in Indonesia Energy by 201.2% during the 4th quarter. R Squared Ltd now owns 45,814 shares of the company’s stock worth $134,000 after purchasing an additional 30,601 shares in the last quarter. Institutional investors and hedge funds own 0.51% of the company’s stock.

About Indonesia Energy

(Get Free Report)

Indonesia Energy Corporation Limited (NYSE: INDO) is a coal-focused energy company principally engaged in the exploration, development and production of thermal coal resources in Indonesia. Headquartered in Jakarta, the company leverages Indonesia’s abundant coal reserves to supply power generation markets at home and abroad. Its business model centers on identifying high‐quality coal seams, securing mining concessions, and advancing projects from exploration through to commercial production.

The company’s core assets are located in South Sumatra Province, where it holds adjacent coal concessions that offer access to steam coal suited for electricity generation.

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