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Tag: INDO stock

  • Indonesia Energy Corp. Ltd. (INDO) Under Corrections After Upward Rally

    April 14 proved to be another bright day for crude oil and gas stocks. Like most oil and gas stocks, the Jakarta-based Indonesia Energy Corp. Ltd. (INDO) also witnessed an upswing on Friday. But the stock soon succumbed to corrections after registering gains of 65.93% during the regular session. Thus, following its shot up to $26.40 in regular trading, the stock went down to $24.82 in the after-hours with a loss of 5.98%.

    No official news or SEC filing from the company was responsible for the uptick in the stock on Friday.

    What Happened?

    In early 2022, INDO stock skyrocketed to reach as high as $86 per share from a mere $4.50 a share in just a matter of days. This sudden jump came from the rally in oil prices due to the Russian invasion of Ukraine. The invasion had many sanctions being slapped on the country causing a supply chain constraint to spike oil and gas prices. Since the upsurge in oil prices has calmed down so has that in the stock. INDO has considerably cooled down since the peak to now trade near the $24 price level.

    Source: Bureau of Labor & Statistics

    Oil and gas prices are expected to be further weighed down in the coming weeks. The supply chain disruptions and a further decline in Russian oil supply are anticipated to hit the prices in the week ending April 22. Thus, with an expected decline in oil prices, it seems investors had oil and gas stocks rally on Friday to garner some more profits before the stocks go further down in the week ahead.

    Social media discussions, stock sentiment, etc. are the most likely drivers in the uptrend.

    INDO’s Current Position & Outlook

    Despite not being a large business, INDO comes with a distinctive competitive advantage. The Indonesia-based oil and gas explorer produces oil at a significantly low price. Certain factors including its strategy to accumulate medium-sized matured oil fields with proven undeveloped reserves help it generate much profit with lower costs. Such reserves are usually overlooked by larger companies or are not a part of their asset selection criteria.

    While this in itself gives the company a huge advantage for growth in the future as oil prices are still near $100 a barrel, other factors are also contributors. The increasing sanctions on Russian oil and energy imports are opening doors to finding alternatives. Thus, there is a significant opportunity for growth here.

    Conclusion

    Having commenced drilling in 2 two productions wells in April, INDO is looking forward to initiating operations in two more wells in H2 2022. Furthermore, with plans of enhancing production and cash flow by over 200%, the company is set for a bullish future.

  • Indonesia Energy Corp. Ltd. (INDO) Under Corrections After Hours Following Over 100% Increase

    Indonesia Energy Corp. Ltd. (INDO) Under Corrections After Hours Following Over 100% Increase

    On March 04, Indonesia Energy Corp. Ltd. (INDO) gained a mammoth 101.83% during the regular session amid the energy price surge. Following this, the stock succumbed to corrections in the after-hours session. The reason for the humungous gain is the Russia-Ukraine conflict’s inflationary pressure on energy prices.

    During the regular session, INDO marked its 52-week high of $49.00 while 66.37 million shares traded hands. The day’s volume remained super active at 957% of its average. The stock closed the session with a record gain of $20.57 at $40.77. Following this huge gain, the stock fell under corrections in the after-hours to shed its gains. Hence, INDO declined by 6.08% in the after-hours to reach a value of $38.29 per share.

    The oil and gas explorer and producer, Indonesia Energy Corp. Ltd. has a market capitalization of $303.65 million.

    What Happened with INDO?

    The Russian invasion of Ukraine has caused numerous supply-chain concerns in the energy industry. With Russia being one of the largest natural gas producers globally, the sanctions against the company have shot the energy prices up. Due to the ongoing conflict and supply-chain constraints, prices of oil have spiked with energy prices reaching near-record highs. The energy prices are expected to increase further as the conflict continues.

    Source: Radware

    Consequently, the energy stocks have been on a bullish path as of recently, including INDO. In just a matter of a single session, the stock increased over double-fold to reach its all-time high of $49.00. It was only near the end of February that INDO was trading around $4 per share and has now reached $40. The unbelievable gains were ultimate to cause the stock to fall under corrections. Thus, the stock did succumb to corrections in the after-hours on Friday.

    In the past five days alone, INDO has added 240.32% while increasing by a huge 1,356.07% year to date. The stock had gone up by 409.63% last year.

    Company News

    On January 26, the company provided updates on its drilling plans for 2022. INDO announced to initiate the drilling of its next two new wells at IEC’s Kruh Block within a month. Moreover, the company also shares its plan for the initiation of a third new well drilling at Kruh Block before the second quarter ends.

    On January 10, the company announced IEC’s operating company’s recognition as the top three performers in 2021 by Pertamina (state oil & gas company). The company received the title among 11 other companies in Indonesia after a comprehensive assessment.

  • Indonesia Energy Corp. Ltd. (INDO) Stock Rocketing Higher in Premarket, What’s Happening.

    Indonesia Energy Corp. Ltd. (INDO) Stock Rocketing Higher in Premarket, What’s Happening.

    Indonesia Energy Corp. Ltd. (INDO) is an energy company focused on the purchase and development of advanced and strategic energy projects in Indonesia. The company’s key assets include Kruh Block and Citarum Block.

    The price of INDO stock during regular trading on February 23, 2022, with an increase of 16.3%, was $7.53. At last check in the premarket on February 24, 2022, the stock further inclined sharply by 85.26%.

    INDO: Events and Happenings

    On January 26, 2022, INDO updated about its drilling plans for 2022 as it expects the commencement of its two wells drilling at the Kruh Block within a month. The company also announced to start a third well drilling at the same block before the second quarter ends. The three wells are named Kruh 27, Kruh 28, and Kruh 29. Their drilling operations are funded via gross proceeds of the financing of the company’s institutional investor.

    On January 10, 2022, INDO reported it had been recognized by Pertamina as one of the top three performers in 2021. The company was nominated among 11 oil and gas Indonesian companies after a thorough assessment of its commitment, financial, and safety records. On December 2021, INDO announced that its regular oil production rate had improved by 50% as an outcome of the completion of its Kruh 26 well.

    INDO: Key Financials

    On May 17, 2021, INDO released its financial outcomes for the year ended December 31, 2020. Some of the key points are discussed below.

    Revenue

    Revenue in the fiscal year 2020 was recorded to be $1.98 million against $4.18 million in the same period of 2019. The company observed a loss in its revenue over the year.

    EPS

    Basic and diluted net loss in the FY 2020 was $6.95 million or $0.94 per share versus $1.67 million or $0.28 per share in the same period in 2019. The company’s EPS decreased phenomenally over the year.

    Conclusion

    INDO Stock outpaced in the past six months as it is 49% up in the period. The current stock hike is the result of the Russian-Ukrainian conflict which resulted in the per-barrel prices of oil soaring as high as $100 per barrel. The company’s annual earnings release date is approaching and it expects revenue of $700 thousand against -$0.17 EPS. The analysts are stating the company’s stock to be volatile so the investors should think before investing.

  • Indaptus Therapeutics Inc. (INDP) stock Advances Further After Market

    Indaptus Therapeutics Inc. (INDP) stock gained a further 17.50% in the after-hours on January 03. The stock seems to have advanced further after the announcement of Boyan Litchev, M.D. as CMO of the company.

    During the regular session, the stock added 8.25% at its close of $6.17 with 1.28 million shares exchanging. Following the announcement, INDP saw further gain to reach $7.25 at an after-hours volume of 1.01 million shares.

    The clinical-stage biopharmaceutical company has a market capitalization of $46.7 million. Currently, the company has 8.19 million shares outstanding in the market. Furthermore, in the past year, the stock has seen a loss of 57.51%.

    New CMO Boyan Litchev M.D.

    As per Monday’s announcement, Dr. Litchev has been appointed as the Chief Medical Officer of the company. This appointment will be effective on January 31, 2022. Furthermore, Dr. Litchev will be responsible for overseeing clinical strategy, clinical development, and the conduct of all clinical programs.

    INDP’s CEO, Jeffery A. Meckler welcomed the new CMO who has vast experience both as an oncology clinical researcher and an executive leader. Moreover, Dr. Litchev will join the company as it plans to commence clinical studies of Decoy20.

    Previously, Dr. Litchev has served with many great companies including Shoreline Biosciences, Poseida Therapeutics, Halozyme, Akcea Therapeutics, and many others. The positions he has served under with these companies include Senior Vice President, Head of Global Clinical Development, Head of Medical Affairs and Safety, etc.

    INDP’s Recent Developments

    Previously, on December 01, INDP had announced the appointment of Mark Gilbert, M.D. to its board of directors. Moreover, Dr. Gilbert succeeded Director Hoonmo Lee, who stepped down from the board as per the new appointment. Currently, Dr. Gilbert is the Executive Vice President of Research and Development at Acepodia.

    Dr. Gilbert while has been serving in positions in the pharmaceutical industry, he also remained a faculty member at Fred Hutchinson Cancer Research Center and the University of Washington in the past.

    INDP’s Q3 2021

    On November 15, the company announced its financial results for the third quarter of 2021.

    In the third quarter of 2021, INDP incurred a loss per share of $0.81, against $0.79 for the year-ago period.

    Moreover, at the end of the third quarter of 2021 on September 30, the company’s cash and cash equivalents totaled $41.9 million approx. Comparatively, the cash and cash equivalents were $1.6 million on December 31, 2020.