Indonesia Energy Corporation Limited [INDO] Stock trading around $11.50 per share: What’s Next?

Indonesia Energy Corporation Limited [AMEX: INDO] closed the trading session at $11.50 on 08/23/22. The day’s price range saw the stock hit a low of $8.60, while the highest price level was $12.76. The company report on July 12, 2022 that Indonesia Energy Discovers Potential Natural Gas Reservoir During Current Drilling of Kruh-28 Oil Production Well.

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In addition, IEC announces that current production at Kruh Block plus current market price for oil brings IEC to current cash flow positive operations.

Indonesia Energy Corporation Limited (NYSE American: INDO) (IEC), an oil and gas exploration and production company focused on Indonesia, today announced that while drilling the Kruh 28 well on IEC’s Kruh block, IEC unexpectedly found evidence of a potential natural gas bearing reservoir between 976 and 1,006 feet interval with 25 feet net thickness. This initial evidence was supported by both wireline logging and geologic logging data.

The stocks have a year to date performance of 310.71 percent and weekly performance of 89.14 percent. The stock has been moved at 77.74 percent over the last six months. The stock has performed 87.30 percent around the most recent 30 days and changed -23.03 percent over the most recent 3-months.

If compared to the average trading volume of 2.01M shares, INDO reached to a volume of 61100623 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $13.00 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 June 24, 2022. The new note on the price target was released on March 25, 2021, representing the official price target for Indonesia Energy Corporation Limited stock. Previously, the target price had yet another raise to $10, while Aegis Capital analysts kept a Buy rating on INDO stock.

The Average True Range (ATR) for Indonesia Energy Corporation Limited is set at 1.08, with the Price to Sales ratio for INDO stock in the period of the last 12 months amounting to 46.32. The Price to Book ratio for the last quarter was 10.85.

INDO stock trade performance evaluation

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 89.14. With this latest performance, INDO shares gained by 87.30% in over the last four-week period, additionally plugging by 77.74% over the last 6 months – not to mention a rise of 125.93% 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 77.46, with the RSI for the last a single of trading hit 84.56, and the three-weeks RSI is set at 68.38 for Indonesia Energy Corporation Limited [INDO]. The present Moving Average for the last 50 days of trading for this stock 6.74, while it was recorded at 8.03 for the last single week of trading, and 10.66 for the last 200 days.

Indonesia Energy Corporation Limited [INDO]: An insightful look at the core 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 -248.78 and a Gross Margin at -34.69. Indonesia Energy Corporation Limited’s Net Margin is presently recorded at -248.04.

Return on Equity for this stock declined to -60.30, with Return on Assets sitting at -43.98.

Indonesia Energy Corporation Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.

Indonesia Energy Corporation Limited [INDO]: Insider Ownership positions

There are presently around $5 million, or 4.60% of INDO stock, in the hands of institutional investors. The top three institutional holders of INDO stocks are: MORGAN STANLEY with ownership of 259,836, which is approximately New of the company’s market cap and around 62.15% of the total institutional ownership; TWO SIGMA INVESTMENTS, LP, holding 43,625 shares of the stock with an approximate value of $0.5 million in INDO stocks shares; and ADVISOR GROUP HOLDINGS, INC., currently with $0.29 million in INDO stock with ownership of nearly 256000% of the company’s market capitalization.

Positions in Indonesia Energy Corporation Limited stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 12 institutional holders increased their position in Indonesia Energy Corporation Limited [AMEX:INDO] by around 385,139 shares. Additionally, 7 investors decreased positions by around 375,933 shares, while 1 investors held positions by with 333,378 shares. The mentioned changes placed institutional holdings at 427,694 shares, according to the latest SEC report filing. INDO stock had 6 new institutional investments in for a total of 343,349 shares, while 5 institutional investors sold positions of 360,005 shares during the same period.


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