Indonesia Energy (NYSE:INDO) Shares Down 1.1% – Here’s What Happened

Indonesia Energy Co. Limited (NYSE:INDO) shares fell 1.1% during trading on Friday . The company traded as low as $2.77 and last traded at $2.79. Approximately 75,361 shares were traded during trading, a decline of 95% from the average session volume of 1,460,499 shares. The stock had previously closed at $2.82.

Indonesia Energy Trading Down 1.1%

The business’s 50 day moving average is $2.85 and its two-hundred day moving average is $3.36.

Institutional Trading of Indonesia Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new position in shares of Indonesia Energy in the first quarter valued at approximately $69,000. Jane Street Group LLC bought a new stake in Indonesia Energy during the second quarter worth approximately $52,000. Two Sigma Investments LP raised its holdings in Indonesia Energy by 18.0% during 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 in the last quarter. R Squared Ltd lifted its position 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 purchasing an additional 30,601 shares during the period. Finally, T3 Companies LLC bought a new position in Indonesia Energy during the 4th quarter valued at $71,000. 0.51% of the stock is currently owned by institutional investors.

Indonesia Energy Company Profile

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.