Indonesia Energy Co. Limited (NYSE:INDO – Get Free Report) dropped 1.1% on Friday . The stock traded as low as $2.77 and last traded at $2.79. 75,361 shares were traded during trading, a decline of 95% from the average daily volume of 1,460,499 shares. The stock had previously closed at $2.82.
Indonesia Energy Trading Down 1.1%
The business has a 50-day moving average of $2.85 and a two-hundred day moving average of $3.36.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in Indonesia Energy in the 1st quarter valued at approximately $69,000. Jane Street Group LLC acquired a new position in shares of Indonesia Energy during the second quarter worth $52,000. Two Sigma Investments LP grew its stake in shares of Indonesia Energy by 18.0% in the third quarter. Two Sigma Investments LP now owns 29,892 shares of the company’s stock worth $90,000 after purchasing an additional 4,550 shares during the last quarter. T3 Companies LLC acquired a new stake in Indonesia Energy in the fourth quarter valued at $71,000. Finally, XTX Topco Ltd bought a new position in Indonesia Energy during the 4th quarter worth $90,000. 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.
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