Vivakor (NASDAQ:VIVK) Posts Earnings Results

Vivakor (NASDAQ:VIVK) announced its earnings results on Wednesday. The company reported ($2.09) earnings per share for the quarter, FiscalAI reports. Vivakor had a negative net margin of 29.87% and a negative return on equity of 31.68%. The firm had revenue of $16.98 million during the quarter.

Vivakor Stock Down 5.0%

NASDAQ:VIVK traded down $0.01 during mid-day trading on Wednesday, reaching $0.13. The stock had a trading volume of 7,722,308 shares, compared to its average volume of 9,975,660. 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 $6.16 million, a price-to-earnings ratio of -0.12 and a beta of 0.88. Vivakor has a 1-year low of $0.11 and a 1-year high of $1.71. The stock’s 50 day simple moving average is $0.30 and its two-hundred day simple moving average is $0.64.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Vivakor

A hedge fund recently raised its stake in Vivakor stock. Geode Capital Management LLC increased its position in shares of Vivakor, Inc. (NASDAQ:VIVK) by 21.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 0.43% of Vivakor worth $162,000 at the end of the most recent reporting period. 12.31% of the stock is currently owned by institutional investors and hedge funds.

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.