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

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

Ark Restaurants Stock Performance

Shares of Ark Restaurants stock opened at $10.10 on Thursday. Ark Restaurants has a 52 week low of $8.88 and a 52 week high of $17.76. The stock has a 50 day moving average price of $11.63 and a two-hundred day moving average price of $11.70. The stock has a market capitalization of $36.40 million, a PE ratio of -17.41 and a beta of 0.99.

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

Hedge Funds Weigh In On Ark Restaurants

Several institutional investors have recently added to or reduced their stakes in ARKR. Geode Capital Management LLC raised its holdings in Ark Restaurants by 50.4% during the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock valued at $251,000 after acquiring an additional 7,017 shares during the period. Empowered Funds LLC boosted its position in shares of Ark Restaurants by 4.9% during the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock valued at $228,000 after acquiring an additional 967 shares during the last quarter. Aristides Capital LLC grew its stake in Ark Restaurants by 9.2% in the 4th quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after buying an additional 1,733 shares in the last quarter. Finally, Northern Trust Corp purchased a new position in Ark Restaurants in the fourth quarter worth $147,000. Institutional investors 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.