Indonesia Energy (NYSE:INDO) Shares Up 3% – Should You Buy?

Indonesia Energy Co. Limited (NYSE:INDO)’s stock price shot up 3% on Friday . The stock traded as high as $2.75 and last traded at $2.73. 245,241 shares were traded during trading, a decline of 87% from the average session volume of 1,904,635 shares. The stock had previously closed at $2.65.

Indonesia Energy Trading Up 3.0%

The firm has a 50-day simple moving average of $2.99 and a two-hundred day simple moving average of $3.55.

Institutional Trading of Indonesia Energy

Large investors have recently modified their holdings of the stock. Virtu Financial LLC raised its stake in Indonesia Energy by 50.2% in 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 in the last quarter. Jane Street Group LLC bought a new position in Indonesia Energy in the 2nd quarter valued at about $52,000. Thompson Davis & CO. Inc. bought a new position in Indonesia Energy in the 1st quarter valued at about $53,000. Goldman Sachs Group Inc. acquired a new position in shares of Indonesia Energy in the 1st quarter valued at approximately $69,000. Finally, T3 Companies LLC acquired a new position in shares of Indonesia Energy in the 4th quarter valued at approximately $71,000. 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.