NEW YORK ( TheStreet) -- InterOil Corporation (NYSE: IOC) is trading at unusually high volume Wednesday with 4.4 million shares changing hands. It is currently at 8.6 times its average daily volume and trading down $4.72 (-10.3%) at $41.10 as of 12:50 p.m. ET. InterOil has a market cap of $2.6 billion and is part of the basic materials sector and energy industry. Shares are down 23.6% year to date as of the close of trading on Tuesday. InterOil Corporation primarily engages in the exploration, appraisal, and development of crude oil and natural gas properties in Papua New Guinea. It also involves in the refining and liquefaction of jet fuel, diesel, and gasoline, as well as naphtha and low sulfur waxy residue. TheStreet Ratings rates InterOil as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and weak operating cash flow. You can view the full InterOil Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.
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