Ark Restaurants (NASDAQ:ARKR) Earns Buy Rating from Analysts at StockNews.com

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

Ark Restaurants Price Performance

Shares of ARKR opened at $13.75 on Wednesday. The company has a market cap of $49.50 million, a PE ratio of -12.73 and a beta of 0.94. The firm has a 50-day moving average of $12.35 and a 200-day moving average of $12.18. Ark Restaurants has a one year low of $9.75 and a one year high of $17.76.

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC raised its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

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.