Vivakor (OTCMKTS:VIVKD) Trading Down 6.8% – Here’s What Happened

Vivakor, Inc. (OTCMKTS:VIVKD) shares dropped 6.8% during mid-day trading on Monday . The stock traded as low as $2.06 and last traded at $1.2250. 5,845 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 17,590 shares. The stock had previously closed at $1.3150.

Vivakor Trading Down 7.2%

The stock has a market capitalization of $2.52 million, a P/E ratio of -0.00 and a beta of 0.73. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $5.02 and a two-hundred day moving average price of $29.19.

Hedge Funds Weigh In On Vivakor

A hedge fund recently raised its position in Vivakor stock. Geode Capital Management LLC lifted its stake in shares of Vivakor, Inc. (OTCMKTS:VIVKD) by 21.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 0.43% of Vivakor worth $162,000 as of its most recent filing with the Securities and Exchange Commission. 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. In addition, the company offers remediation of soil and the extraction of hydrocarbons, such as oil from properties contaminated by or laden with heavy crude oil and other hydrocarbon-based substances.