Indonesia Energy (NYSE:INDO) Trading Down 2.5% – Should You Sell?

Indonesia Energy Co. Limited (NYSE:INDO) traded down 2.5% during trading on Thursday . The stock traded as low as $2.72 and last traded at $2.73. 266,488 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,166,625 shares. The stock had previously closed at $2.80.

Indonesia Energy Stock Down 2.5%

The firm’s 50 day simple moving average is $2.88 and its 200 day simple moving average is $2.91.

Institutional Trading of Indonesia Energy

Several hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Indonesia Energy during the 2nd quarter worth $52,000. R Squared Ltd raised its stake in shares of Indonesia Energy by 214.0% during the first quarter. R Squared Ltd now owns 17,717 shares of the company’s stock valued at $49,000 after purchasing an additional 12,074 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in Indonesia Energy in the first quarter worth about $69,000. Institutional investors own 0.51% of the company’s stock.

Indonesia Energy Company Profile

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.