Ark Restaurants (NASDAQ:ARKR) Coverage Initiated at StockNews.com

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

Ark Restaurants Stock Performance

Shares of ARKR stock opened at $10.38 on Monday. The firm has a market capitalization of $37.37 million, a price-to-earnings ratio of -3.81 and a beta of 1.02. The stock’s 50-day simple moving average is $11.55 and its 200-day simple moving average is $12.97. Ark Restaurants has a fifty-two week low of $10.06 and a fifty-two week high of $16.25.

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

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC boosted its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,544 shares of the restaurant operator’s stock after acquiring an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 at the end of the most recent reporting period. 31.95% of the stock is currently owned by institutional investors.

About Ark Restaurants

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.