Shares of Indonesia Energy Co. Limited (NYSE:INDO – Get Free Report) shot up 0.7% during trading on Friday . The stock traded as high as $2.80 and last traded at $2.80. 122,230 shares traded hands during trading, a decline of 92% from the average daily volume of 1,593,545 shares. The stock had previously closed at $2.78.
Indonesia Energy Stock Up 0.7%
The firm’s fifty day simple moving average is $2.80 and its 200-day simple moving average is $3.48.
Hedge Funds Weigh In On Indonesia Energy
A number of hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC boosted its stake in Indonesia Energy by 50.2% during the 4th 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 purchased a new position in shares of Indonesia Energy in the second quarter worth $52,000. Thompson Davis & CO. Inc. bought a new position in shares of Indonesia Energy during the first quarter valued at $53,000. Goldman Sachs Group Inc. bought a new position in shares of Indonesia Energy during the first quarter valued at $69,000. Finally, T3 Companies LLC purchased a new stake in shares of Indonesia Energy during the fourth quarter valued at $71,000. 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 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.
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