Indonesia Energy (NYSE:INDO) Shares Up 0.4% – Time to Buy?

Indonesia Energy Co. Limited (NYSE:INDO)’s share price was up 0.4% during trading on Tuesday. The stock traded as high as $2.77 and last traded at $2.75. 192,006 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,263,137 shares. The stock had previously closed at $2.74.

Indonesia Energy Price Performance

The stock’s 50-day moving average price is $2.89 and its 200-day moving average price is $2.97.

Institutional Trading of Indonesia Energy

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

About Indonesia Energy

Indonesia Energy Corporation Limited (NYSE: INDO) is an independent energy company focused on the exploration, development and production of oil and natural gas in Indonesia. Through its Indonesian subsidiaries and operating partners, the company manages upstream energy assets and seeks to increase production from existing fields while identifying additional exploration opportunities.

The company’s principal asset is the Kruh Block, an oil-producing area in South Sumatra. Indonesia Energy has pursued workover, drilling and enhanced-recovery activities at the block to develop additional reserves and support production from existing wells.