Indonesia Energy (NYSE:INDO) Stock Price Down 5.2% – Here’s What Happened

Indonesia Energy Co. Limited (NYSE:INDO) shares were down 5.2% on Wednesday. The stock traded as low as $2.51 and last traded at $2.53. 111,239 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,180,040 shares. The stock had previously closed at $2.67.

Indonesia Energy Trading Down 5.2%

The business has a 50 day simple moving average of $2.80 and a two-hundred day simple moving average of $3.28.

Institutional Investors Weigh In On Indonesia Energy

An institutional investor recently bought a new position in Indonesia Energy stock. StoneX Group Inc. bought a new stake in Indonesia Energy Co. Limited (NYSE:INDO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,732 shares of the company’s stock, valued at approximately $65,000. StoneX Group Inc. owned about 0.15% of Indonesia Energy at the end of the most recent quarter. 0.51% of the stock is currently owned by hedge funds and other institutional investors.

Indonesia Energy Company Profile

Indonesia Energy Corporation Limited (NYSE: INDO) is an independent oil and gas company focused on the exploration, development and production of hydrocarbon resources in Indonesia. The company operates through its Indonesian subsidiaries and emphasizes the acquisition and development of producing and prospective oil and gas assets.

Indonesia Energy’s principal asset is the Kruh Block, an oil-producing property in South Sumatra, Indonesia. The block includes multiple producing fields and additional areas targeted for development, workovers, drilling and enhanced recovery activities.