Indonesia Energy (NYSE:INDO) Trading Down 3.5% – Here’s What Happened

Indonesia Energy Co. Limited (NYSE:INDO) shares were down 3.5% during trading on Wednesday . The stock traded as low as $3.18 and last traded at $3.32. Approximately 1,144,191 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 2,978,136 shares. The stock had previously closed at $3.44.

Indonesia Energy Price Performance

The stock has a fifty day moving average price of $4.33 and a two-hundred day moving average price of $3.47.

Institutional Trading of Indonesia Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC grew its holdings in shares of Indonesia Energy by 50.2% during the fourth quarter. Virtu Financial LLC now owns 15,115 shares of the company’s stock valued at $44,000 after purchasing an additional 5,054 shares during the last quarter. Jane Street Group LLC acquired a new position in Indonesia Energy during the 2nd quarter valued at approximately $52,000. Goldman Sachs Group Inc. acquired a new position in Indonesia Energy during the 1st quarter valued at approximately $69,000. T3 Companies LLC bought a new position in Indonesia Energy during the 4th quarter worth $71,000. Finally, XTX Topco Ltd bought a new position in Indonesia Energy during the 4th quarter worth $90,000. 0.51% of the stock is owned by institutional investors and hedge funds.

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.