Indonesia Energy Corporation Limited [INDO] moved up 27.10: Why It’s Important


Indonesia Energy Corporation Limited [AMEX: INDO] price surged by 27.10 percent to reach at $3.74. The company report on May 11, 2022 that Indonesia Energy Discovers Oil at Kruh 27, the First of Two Back-to-Back New Wells at Kruh Block in 2022.

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Production at Kruh 27 expected to commence by of end of this month.

Indonesia Energy Corporation (NYSE American: INDO) (“IEC”), an oil and gas exploration and production company focused on Indonesia, today announced that it has discovered oil in its “Kruh 27” well. Kruh 27 is the first of two back-to-back wells being drilled by IEC during the first half of 2022 at its 63,000-acre Kruh Block.

A sum of 8172762 shares traded at recent session while its average daily volume was at 7.26M shares. Indonesia Energy Corporation Limited shares reached a high of $18.86 and dropped to a low of $13.57 until finishing in the latest session at $17.54.

The one-year INDO stock forecast points to a potential downside of -16.93. The average equity rating for INDO stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Indonesia Energy Corporation Limited [INDO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INDO shares is $15.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INDO stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Noble Capital Markets have made an estimate for Indonesia Energy Corporation Limited shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 25, 2021. While these analysts kept the previous recommendation, Aegis Capital raised their target price to Buy. The new note on the price target was released on February 12, 2020, representing the official price target for Indonesia Energy Corporation Limited stock.

The Average True Range (ATR) for Indonesia Energy Corporation Limited is set at 3.35, with the Price to Sales ratio for INDO stock in the period of the last 12 months amounting to 60.86. The Price to Book ratio for the last quarter was 12.62, with the Price to Cash per share for the same quarter was set at 0.63.

INDO Stock Performance Analysis:

Indonesia Energy Corporation Limited [INDO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.57. With this latest performance, INDO shares dropped by -33.56% in over the last four-week period, additionally plugging by 353.23% over the last 6 months – not to mention a rise of 234.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for INDO stock in for the last two-week period is set at 49.24, with the RSI for the last a single of trading hit 53.05, and the three-weeks RSI is set at 48.96 for Indonesia Energy Corporation Limited [INDO]. The present Moving Average for the last 50 days of trading for this stock 22.73, while it was recorded at 14.16 for the last single week of trading, and 9.29 for the last 200 days.

Insight into Indonesia Energy Corporation Limited Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Indonesia Energy Corporation Limited [INDO] shares currently have an operating margin of -367.01 and a Gross Margin at -37.15. Indonesia Energy Corporation Limited’s Net Margin is presently recorded at -350.96.

Return on Total Capital for INDO is now -43.22, given the latest momentum, and Return on Invested Capital for the company is -44.07. Return on Equity for this stock declined to -48.70, with Return on Assets sitting at -37.85. When it comes to the capital structure of this company, Indonesia Energy Corporation Limited [INDO] has a Total Debt to Total Equity ratio set at 16.03. Additionally, INDO Total Debt to Total Capital is recorded at 13.81, with Total Debt to Total Assets ending up at 12.71. Long-Term Debt to Equity for the company is recorded at 8.09, with the Long-Term Debt to Total Capital now at 6.97.

Receivables Turnover for the company is 2.67 with a Total Asset Turnover recorded at a value of 0.11.Indonesia Energy Corporation Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.70.

Indonesia Energy Corporation Limited [INDO] Insider Position Details

There are presently around $5 million, in the hands of institutional investors. The top three institutional holders of INDO stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 292,433, which is approximately New of the company’s market cap and around 78.87% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 36,080 shares of the stock with an approximate value of $0.5 million in INDO stocks shares; and PALOMA PARTNERS MANAGEMENT CO, currently with $0.3 million in INDO stock with ownership of nearly New of the company’s market capitalization.

Positions in Indonesia Energy Corporation Limited stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 12 institutional holders increased their position in Indonesia Energy Corporation Limited [AMEX:INDO] by around 385,146 shares. Additionally, 0 investors decreased positions by around 0 shares, while 1 investors held positions by with 10 shares. The mentioned changes placed institutional holdings at 385,156 shares, according to the latest SEC report filing. INDO stock had 12 new institutional investments in for a total of 385,146 shares, while 0 institutional investors sold positions of 0 shares during the same period.