Indonesia Energy (NYSE:INDO) Stock Price Up 3% – Time to Buy?

Indonesia Energy Co. Limited (NYSE:INDO) was up 3% on Friday . The company traded as high as $2.75 and last traded at $2.73. 245,241 shares traded hands during trading, a decline of 87% from the average daily volume of 1,904,635 shares. The stock had previously closed at $2.65.

Indonesia Energy Stock Performance

The firm’s fifty day moving average price is $2.99 and its 200-day moving average price is $3.55.

Hedge Funds Weigh In On Indonesia Energy

Large investors have recently bought and sold shares of the company. Thompson Davis & CO. Inc. acquired a new stake in shares of Indonesia Energy during the first quarter valued at about $53,000. Virtu Financial LLC increased its stake in shares of Indonesia Energy by 50.2% in the fourth quarter. Virtu Financial LLC now owns 15,115 shares of the company’s stock valued at $44,000 after buying an additional 5,054 shares during the period. XTX Topco Ltd bought a new position in Indonesia Energy in the 4th quarter valued at approximately $90,000. T3 Companies LLC bought a new position in Indonesia Energy in the 4th quarter valued at approximately $71,000. Finally, R Squared Ltd boosted 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 buying an additional 30,601 shares during the period. 0.51% of the stock is currently owned by institutional investors.

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.