Vivakor, Inc. (NASDAQ:VIVK) Short Interest Down 18.7% in October

Vivakor, Inc. (NASDAQ:VIVK) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 65,200 shares, a drop of 18.7% from the October 15th total of 80,200 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 57,700 shares, the days-to-cover ratio is presently 1.1 days.

Vivakor Stock Performance

Vivakor stock opened at $1.57 on Friday. The firm has a market capitalization of $45.96 million, a PE ratio of -3.08 and a beta of 1.07. Vivakor has a one year low of $0.58 and a one year high of $3.45. The stock’s 50 day moving average price is $1.57 and its 200 day moving average price is $1.75. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.13 and a current ratio of 0.13.

Vivakor (NASDAQ:VIVK) last posted its earnings results on Friday, August 16th. The company reported ($0.12) EPS for the quarter. The firm had revenue of $16.18 million for the quarter. Vivakor had a negative return on equity of 64.09% and a negative net margin of 18.52%.

Hedge Funds Weigh In On Vivakor

A number of institutional investors have recently added to or reduced their stakes in VIVK. Inscription Capital LLC grew its stake in shares of Vivakor by 1,005.2% during the third quarter. Inscription Capital LLC now owns 885,635 shares of the company’s stock valued at $1,364,000 after acquiring an additional 805,500 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Vivakor in the third quarter valued at about $48,000. Finally, Ground Swell Capital LLC acquired a new stake in Vivakor during the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds own 12.31% of the company’s stock.

Vivakor Company Profile

Vivakor, Inc operates, acquires, and develops technologies and assets in the oil and gas industry and related environmental solutions in the United States and Kuwait. The company owns and operates a crude oil gathering, storage, and transportation facility in Delhi, Louisiana. It also owns a crude oil storage tank located near Colorado City, Texas.