Streetbeat News

INDO

Indonesia Energy Corporation Limited

Industry

Oil & Gas Exploration & Production

Indonesia Energy Corporation Limited operates as an oil and gas exploration and production company in Indonesia. It holds interests in the Kruh Block, a producing block covering an area of 258 square kilometers with net crude oil proved reserves of 1.52 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. The company was incorporated in 2018 and is headquartered in Jakarta, Indonesia. Indonesia Energy Corporation Limited is a subsidiary of Maderic Holding Limited.

Open

3.28

Mkt cap

34M

Volume

328K

High

3.40

P/E Ratio

-9.17

52-wk high

6.65

Low

3.25

Div yield

N/A

52-wk low

2.03

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Indonesia Energy Corp (NYSE:INDO) has seen a rise in short interest, with 11.39% increase since the last report, now at 5.28% of float. This is higher than its peers' average of 1.44%. Short interest can indicate bearish sentiment but can also be bullish if it leads to a short squeeze.

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Indonesia Energy Corporation (AMEX:INDO) shares are trading higher due to rising tensions in the Middle East, specifically between Israel and Hezbollah. The geopolitical situation is impacting the oil and gas sector, with additional concerns about potential disruptions in Libya's oil production.

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August 26, 2024 | 2:26 pm

Indonesia Energy shares have resumed trading after a temporary halt. The resumption of trading could lead to increased volatility in the stock price in the short term.

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August 15, 2024 | 6:56 pm

Shares of Indonesia Energy (INDO) have been halted. The reason for the halt has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 6:45 pm

Indonesia Energy Corp (NYSE:INDO) has seen a significant rise in its short interest, with a 96.93% increase since the last report. The company now has 153 thousand shares sold short, representing 3.21% of its float. This is higher than the peer group average of 1.45%.

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