Indonesia Energy Corporation Limited (AMEX: INDO) stock jumped 11.48% on Wednesday to $6.12 against a previous-day closing price of $5.49. With 0.87 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.81 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $6.37 whereas the lowest price it dropped to was $5.45. The 52-week range on INDO shows that it touched its highest point at $86.99 and its lowest point at $2.61 during that stretch. It currently has a 1-year price target of $13.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INDO was down-trending over the past week, with a drop of -1.92%, but this was down by -33.11% over a month. Three-month performance dropped to -8.11% while six-month performance fell -73.04%. The stock gained 33.62% in the past year, while it has gained 118.57% so far this year.
Float and Shares Shorts:
At present, 7.41 million INDO shares are outstanding with a float of 3.52 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.82 million, which was 10.66% higher than short shares on Jun 14, 2022. In addition to Dr. Wirawan Jusuf as the firm’s Co-Founder, Chairman & CEO, Mr. Frank C. Ingriselli serves as its Pres.
Through their ownership of 4.52% of INDO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of INDO, in contrast to — held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in INDO with 2.79% of the stake, Morgan Stanley & Co. LLC holds 259,836 shares worth 259,836. A second-largest stockholder of INDO, Two Sigma Investments LP, holds 43,625 shares, controlling over 0.47% of the firm’s shares. FSC Securities Corp. is the third largest shareholder in INDO, holding 25,600 shares or 0.28% stake.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INDO since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With INDO analysts setting a high price target of $15.00 and a low target of $11.00, the average target price over the next 12 months is $13.00. Based on these targets, INDO could surge 145.1% to reach the target high and rise by 79.74% to reach the target low. Reaching the average price target will result in a growth of 112.42% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. INDO will report FY 2022 earnings on 03/01/2023. Analysts have provided yearly estimates in a range of $0.56 being high and $0.14 being low. For INDO, this leads to a yearly average estimate of $0.35. Based on analyst estimates, the high estimate for the next quarter is $0.10 and the low estimate is $0.10. The average estimate for the next quarter is thus $0.10.