Short Interest in Vivakor, Inc. (NASDAQ:VIVK) Declines By 18.7%

Vivakor, Inc. (NASDAQ:VIVK) saw a significant drop in short interest during the month of 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. Based on an average daily volume of 57,700 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.5% of the shares of the company are short sold.

Hedge Funds Weigh In On Vivakor

A hedge fund recently raised its stake in Vivakor stock. Inscription Capital LLC boosted its stake in shares of Vivakor, Inc. (NASDAQ:VIVK) by 1,005.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 885,635 shares of the company’s stock after acquiring an additional 805,500 shares during the quarter. Inscription Capital LLC owned about 3.02% of Vivakor worth $1,364,000 as of its most recent SEC filing. 12.31% of the stock is currently owned by institutional investors.

Vivakor Stock Performance

Shares of VIVK stock traded down $0.04 during trading hours on Friday, reaching $1.57. 16,964 shares of the company traded hands, compared to its average volume of 88,523. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.13 and a quick ratio of 0.13. Vivakor has a 12-month low of $0.58 and a 12-month high of $3.45. The company has a market cap of $45.97 million, a P/E ratio of -3.16 and a beta of 1.07. The firm has a 50-day moving average price of $1.57 and a 200 day moving average price of $1.75.

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

About Vivakor

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.