Vivakor (OTCMKTS:VIVKD) Shares Down 40.6% – Here’s What Happened

Shares of Vivakor, Inc. (OTCMKTS:VIVKD) were down 40.6% on Thursday . The stock traded as low as $2.06 and last traded at $1.3140. Approximately 5,845 shares traded hands during trading, a decline of 67% from the average daily volume of 17,590 shares. The stock had previously closed at $2.2129.

Vivakor Trading Down 40.6%

The company has a fifty day simple moving average of $2.07 and a two-hundred day simple moving average of $6.60. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $2.72 million, a P/E ratio of 0.00 and a beta of 0.73.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Vivakor stock. Geode Capital Management LLC boosted its holdings in shares of Vivakor, Inc. (OTCMKTS:VIVKD) by 21.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,465 shares of the company’s stock after acquiring an additional 35,903 shares during the period. Geode Capital Management LLC owned approximately 0.43% of Vivakor worth $162,000 as of its most recent filing with the Securities and Exchange Commission. 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. 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.