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

Equities researchers at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKRGet Free Report) in a report issued on Thursday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Trading Up 2.4 %

Shares of ARKR stock opened at $13.46 on Thursday. Ark Restaurants has a 1 year low of $9.75 and a 1 year high of $17.76. The firm’s fifty day simple moving average is $12.48 and its 200 day simple moving average is $12.16. The firm has a market capitalization of $48.46 million, a P/E ratio of -12.46 and a beta of 0.94.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC lifted its stake in Ark Restaurants Corp. (NASDAQ:ARKRFree Report) by 50.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,949 shares of the restaurant operator’s stock after buying an additional 7,017 shares during the period. Geode Capital Management LLC owned about 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 31.95% of the company’s stock.

Ark Restaurants Company Profile

(Get Free Report)

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.

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