Indonesia Energy Co. Limited (NYSE:INDO – Get Free Report)’s stock price shot up 3.8% during mid-day trading on Friday . The stock traded as high as $3.06 and last traded at $3.03. 395,999 shares were traded during trading, a decline of 77% from the average daily volume of 1,741,369 shares. The stock had previously closed at $2.92.
Indonesia Energy Price Performance
The business has a fifty day moving average price of $2.85 and a 200 day moving average price of $3.54.
Hedge Funds Weigh In On Indonesia Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. purchased a new position in Indonesia Energy in the first quarter valued at approximately $69,000. Jane Street Group LLC purchased a new stake in shares of Indonesia Energy during the 2nd quarter worth approximately $52,000. Two Sigma Investments LP lifted its position in shares of Indonesia Energy by 18.0% during the 3rd quarter. Two Sigma Investments LP now owns 29,892 shares of the company’s stock worth $90,000 after buying an additional 4,550 shares during the last quarter. R Squared Ltd boosted its holdings in shares of Indonesia Energy by 201.2% in the 4th quarter. R Squared Ltd now owns 45,814 shares of the company’s stock valued at $134,000 after buying an additional 30,601 shares in the last quarter. Finally, T3 Companies LLC acquired a new position in shares of Indonesia Energy in the 4th quarter valued at $71,000. 0.51% of the stock is owned by institutional investors and hedge funds.
Indonesia Energy Company Profile
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 highâquality 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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