Indonesia Energy (NYSE:INDO) Trading 1.4% Higher – Here’s Why

Indonesia Energy Co. Limited (NYSE:INDO)’s stock price traded up 1.4% on Monday . The stock traded as high as $2.95 and last traded at $2.93. 161,490 shares changed hands during trading, a decline of 88% from the average daily volume of 1,363,815 shares. The stock had previously closed at $2.89.

Indonesia Energy Stock Performance

The business has a 50-day simple moving average of $2.93 and a 200-day simple moving average of $3.16.

Hedge Funds Weigh In On Indonesia Energy

An institutional investor recently bought a new position in Indonesia Energy stock. Thompson Davis & CO. Inc. bought a new stake in Indonesia Energy Co. Limited (NYSE:INDO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,300 shares of the company’s stock, valued at approximately $53,000. Thompson Davis & CO. Inc. owned approximately 0.11% of Indonesia Energy at the end of the most recent reporting period. 0.51% of the stock is currently owned by institutional investors.

About Indonesia Energy

Indonesia Energy Corporation Limited (NYSE: INDO) is an independent oil and gas exploration and production company focused on developing energy resources in Indonesia. The company’s activities include identifying prospective hydrocarbon properties, drilling and developing wells, and producing and selling crude oil and natural gas.

Indonesia Energy’s principal operations are located in Indonesia, including the Kruh oil and gas block in South Sumatra. The company has also pursued exploration and development opportunities in the Citarum block in West Java, giving it exposure to both producing assets and prospective exploration acreage.

Indonesia Energy is incorporated in the Cayman Islands and conducts its operating activities through Indonesian subsidiaries.