Vivakor (OTCMKTS:VIVKD) Trading Down 21% – Here’s What Happened

Vivakor, Inc. (OTCMKTS:VIVKD)’s stock price was down 21% during mid-day trading on Wednesday . The company traded as low as $1.35 and last traded at $1.74. Approximately 27,611 shares were traded during trading, an increase of 7% from the average daily volume of 25,851 shares. The stock had previously closed at $2.2025.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Vivakor in a research note on Monday, December 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Vivakor has an average rating of “Sell”.

Vivakor Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $3.78 million, a P/E ratio of 0.00 and a beta of 0.73. The business has a 50 day moving average of $2.58 and a 200-day moving average of $16.52.

Institutional Trading of Vivakor

A hedge fund recently raised its stake in Vivakor stock. Geode Capital Management LLC lifted its stake in shares of Vivakor, Inc. (OTCMKTS:VIVKD) by 21.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 SEC filing. 12.31% of the stock is currently owned by institutional investors.

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. 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.