Indonesia Energy (NYSE:INDO) Stock Price Down 22.4%

Shares of Indonesia Energy Co. Limited (NYSE:INDO) dropped 22.4% during mid-day trading on Tuesday . The stock traded as low as $4.57 and last traded at $4.72. Approximately 6,694,105 shares were traded during mid-day trading, an increase of 385% from the average daily volume of 1,379,528 shares. The stock had previously closed at $6.08.

Indonesia Energy Stock Down 22.4 %

The firm has a fifty day moving average price of $2.59 and a 200-day moving average price of $2.89.

Hedge Funds Weigh In On Indonesia Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in shares of Indonesia Energy during the first quarter worth $6,621,000. Bank of America Corp DE purchased a new stake in shares of Indonesia Energy in the fourth quarter worth $410,000. Jane Street Group LLC purchased a new stake in shares of Indonesia Energy in the first quarter worth $570,000. Susquehanna International Group LLP purchased a new stake in Indonesia Energy during the fourth quarter valued at about $111,000. Finally, Virtu Financial LLC purchased a new stake in Indonesia Energy during the fourth quarter valued at about $101,000. 0.51% of the stock is owned by institutional investors.

About Indonesia Energy

Indonesia Energy Corporation Limited operates as an oil and gas exploration and production company in Indonesia. The company holds interests in the Kruh Block, a producing block covering an area of 258 square kilometers with net crude oil proved reserves of 2.06 million barrels located to the northwest of Pendopo, Pali, South Sumatra; and the Citarum Block, an exploration block covering an area of 3,924.67 square kilometers located onshore in West Java.