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

StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note released on Tuesday. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

NASDAQ ARKR opened at $9.86 on Tuesday. The business has a 50 day simple moving average of $11.31 and a 200 day simple moving average of $12.81. Ark Restaurants has a 52-week low of $9.78 and a 52-week high of $16.25. The stock has a market cap of $35.54 million, a price-to-earnings ratio of -3.63 and a beta of 1.02.

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC grew its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,949 shares of the restaurant operator’s stock after acquiring an additional 7,017 shares during the quarter. Geode Capital Management LLC owned 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 31.95% of the stock is owned by 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.