Vivakor, Inc. (NASDAQ:VIVK) Sees Large Increase in Short Interest

Vivakor, Inc. (NASDAQ:VIVK) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 1,870,000 shares, a growth of 1,329.7% from the September 15th total of 130,800 shares. Based on an average daily volume of 2,790,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 10.5% of the shares of the company are sold short. Currently, 10.5% of the shares of the company are sold short. Based on an average daily volume of 2,790,000 shares, the days-to-cover ratio is presently 0.7 days.

Vivakor Price Performance

Vivakor stock opened at $0.21 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.22 and a quick ratio of 0.22. The company has a market capitalization of $9.87 million, a PE ratio of -0.19 and a beta of 0.93. Vivakor has a one year low of $0.18 and a one year high of $1.74. The business has a 50 day simple moving average of $0.56 and a 200 day simple moving average of $0.75.

Vivakor (NASDAQ:VIVK) last posted its earnings results on Tuesday, August 19th. The company reported ($0.30) EPS for the quarter. The company had revenue of $29.10 million for the quarter. Vivakor had a negative return on equity of 31.68% and a negative net margin of 29.87%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Vivakor in a research report on Tuesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Vivakor

An institutional investor recently raised its position in Vivakor stock. Geode Capital Management LLC raised its holdings in Vivakor, Inc. (NASDAQ:VIVK) by 21.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 202,465 shares of the company’s stock after purchasing an additional 35,903 shares during the quarter. Geode Capital Management LLC owned approximately 0.43% of Vivakor worth $162,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.