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

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

Ark Restaurants Price Performance

Shares of NASDAQ:ARKR opened at $10.35 on Wednesday. The company’s 50 day simple moving average is $12.07 and its 200 day simple moving average is $11.78. The stock has a market capitalization of $37.30 million, a price-to-earnings ratio of -17.84 and a beta of 0.99. Ark Restaurants has a 1 year low of $9.75 and a 1 year high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last announced its quarterly earnings data on Monday, February 10th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter. Ark Restaurants had a negative net margin of 1.16% and a positive return on equity of 4.22%.

Institutional Trading of Ark Restaurants

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Ark Restaurants by 50.4% in the third quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock valued at $251,000 after buying an additional 7,017 shares in the last quarter. Empowered Funds LLC boosted its position in Ark Restaurants by 4.9% in the fourth quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock valued at $228,000 after buying an additional 967 shares in the last quarter. Northern Trust Corp acquired a new stake in Ark Restaurants in the fourth quarter valued at approximately $147,000. Finally, Aristides Capital LLC boosted its position in Ark Restaurants by 9.2% in the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after buying an additional 1,733 shares in the last quarter. Institutional investors and hedge funds own 31.95% of the company’s stock.

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.