StockNews.com Begins Coverage on Ark Restaurants (NASDAQ:ARKR)

Equities researchers at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a note issued to investors on Monday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

NASDAQ:ARKR opened at $11.52 on Monday. Ark Restaurants has a 1-year low of $10.27 and a 1-year high of $16.25. The company has a 50-day moving average of $12.74 and a 200 day moving average of $13.66. The firm has a market cap of $41.47 million, a PE ratio of -5.70 and a beta of 1.01.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings data on Monday, August 12th. The restaurant operator reported $0.72 earnings per share for the quarter. Ark Restaurants had a negative net margin of 5.31% and a positive return on equity of 0.14%. The company had revenue of $50.40 million during the quarter.

Institutional Investors Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC boosted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,544 shares of the restaurant operator’s stock after acquiring an additional 1,225 shares during the period. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 as of its most recent filing with the Securities & Exchange Commission. 31.95% of the stock is owned by hedge funds and other institutional investors.

Ark Restaurants Company Profile

Ark Restaurants Corp., through its subsidiaries, owns and operates restaurants and bars in the United States. It operates restaurants in New York City; Washington, DC; Las Vegas, Nevada; Atlantic City, New Jersey; Florida; and Alabama, as well as fast food concepts and catering operations. The company was incorporated in 1983 and is based in New York, New York.