Indonesia Energy (NYSE:INDO) Trading Up 5% – Here’s What Happened

Indonesia Energy Co. Limited (NYSE:INDO) shares were up 5% during trading on Tuesday . The stock traded as high as $4.86 and last traded at $4.86. Approximately 5,636,664 shares changed hands during mid-day trading, an increase of 76% from the average daily volume of 3,211,675 shares. The stock had previously closed at $4.63.

Indonesia Energy Price Performance

The stock has a 50 day simple moving average of $4.21 and a 200 day simple moving average of $3.35.

Institutional Investors Weigh In On Indonesia Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd lifted its stake in Indonesia Energy by 201.2% in the fourth quarter. R Squared Ltd now owns 45,814 shares of the company’s stock worth $134,000 after acquiring an additional 30,601 shares during the period. XTX Topco Ltd purchased a new position in shares of Indonesia Energy during the 4th quarter worth approximately $90,000. Two Sigma Investments LP boosted its position in shares of Indonesia Energy by 18.0% during the third quarter. Two Sigma Investments LP now owns 29,892 shares of the company’s stock valued at $90,000 after purchasing an additional 4,550 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Indonesia Energy during the first quarter valued at $69,000. Finally, T3 Companies LLC purchased a new stake in shares of Indonesia Energy in the 4th quarter worth about $71,000. Hedge funds and other institutional investors 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.