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

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

Ark Restaurants Stock Performance

Shares of Ark Restaurants stock opened at $10.00 on Wednesday. The firm has a market cap of $36 million, a PE ratio of -3.68 and a beta of 1.02. Ark Restaurants has a 1 year low of $9.78 and a 1 year high of $16.25. The firm’s 50-day simple moving average is $11.15 and its 200-day simple moving average is $12.68.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC boosted its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,949 shares of the restaurant operator’s stock after purchasing an additional 7,017 shares during the quarter. Geode Capital Management LLC owned approximately 0.58% of Ark Restaurants worth $251,000 at the end of the most recent quarter. Hedge funds and other 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.