Indonesia Energy (NYSE:INDO) Stock Price Up 4.9% – Here’s Why

Indonesia Energy Co. Limited (NYSE:INDO)’s share price shot up 4.9% during mid-day trading on Friday . The company traded as high as $3.06 and last traded at $3.00. 608,361 shares changed hands during trading, a decline of 45% from the average session volume of 1,107,444 shares. The stock had previously closed at $2.86.

Indonesia Energy Stock Performance

The business’s 50 day simple moving average is $2.83 and its 200-day simple moving average is $2.95.

Institutional Trading of Indonesia Energy

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in shares of Indonesia Energy during the first quarter valued at $69,000. Jane Street Group LLC bought a new position in Indonesia Energy in the 2nd quarter valued at about $52,000. Finally, Two Sigma Investments LP increased its stake in Indonesia Energy by 18.0% during the 3rd quarter. Two Sigma Investments LP now owns 29,892 shares of the company’s stock valued at $90,000 after buying an additional 4,550 shares during the period. Institutional investors own 0.51% of the company’s stock.

About Indonesia Energy

Indonesia Energy Corporation Limited, together with its subsidiaries, operates as an oil and gas exploration and production company in Indonesia. It holds interests in the Kruh Block, a producing block covering approximately an area of 258 square kilometers located in the Pali, South Sumatra; and the Citarum Block, an exploration block covering approximately an area of 3,924.67 square kilometers located in the onshore of West Java.