Indonesia Energy (NYSE:INDO) Shares Down 9.2% – Should You Sell?
by Kim Johansen · The Markets DailyIndonesia Energy Co. Limited (NYSE:INDO – Get Free Report) traded down 9.2% during mid-day trading on Friday . The company traded as low as $2.63 and last traded at $2.67. 762,511 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 2,071,311 shares. The stock had previously closed at $2.94.
Indonesia Energy Stock Down 9.2%
The firm’s fifty day moving average is $3.23 and its 200-day moving average is $3.57.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. purchased a new stake in shares of Indonesia Energy in the first quarter worth approximately $53,000. Virtu Financial LLC lifted its stake in 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 acquiring an additional 5,054 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Indonesia Energy during the fourth quarter valued at about $90,000. T3 Companies LLC purchased a new position in Indonesia Energy during the fourth quarter worth about $71,000. Finally, R Squared Ltd grew its position in Indonesia Energy by 201.2% in 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
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.