Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Henry Khederian

Why Indonesia Energy Shares Are Rising

Shares of small-cap oil company Indonesia Energy Corp Ltd (NASDAQ:INDO) are trading higher by 105.5% at $41.52 on continued momentum. The move higher has occurred despite any company specific-news, though low-float energy stocks have gained amid recent oil volatility.

According to data from Benzinga Pro, Indonesia Energy has a share float of 2.226 million, with 53 million shares having been traded at the time of publication.

Indonesia Energy shares are trading higher by 220% over the past 5 sessions and higher by 814% over the past month amid a rise in oil prices following the Russian invasion of Ukraine, which has caused supply concerns.

Indonesia Energy is an oil and gas exploration and production company focused on Indonesia. The company generates its revenue from oil and gas sales.

See Also: Peloton Rolls Out Extended Free Trial Period: Will It Stop COVID Lockdown Stock's Downhill Slide?

Indonesia Energy has a 52-week high of $49.00 and a 52-week low of $2.61.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.