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 note released on Friday. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

Shares of NASDAQ ARKR opened at $12.78 on Friday. The company’s 50 day simple moving average is $12.90 and its 200 day simple moving average is $12.16. Ark Restaurants has a fifty-two week low of $9.75 and a fifty-two week high of $17.76. The firm has a market capitalization of $46.01 million, a P/E ratio of -11.83 and a beta of 0.95.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC grew its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 approximately 0.58% of Ark Restaurants worth $251,000 as of its most recent filing with the Securities and Exchange Commission. 31.95% of the stock is currently owned by 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.