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

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report sent to investors on Monday. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

Ark Restaurants stock opened at $10.43 on Monday. The company’s 50 day simple moving average is $12.62 and its 200-day simple moving average is $11.98. Ark Restaurants has a 1 year low of $9.75 and a 1 year high of $17.76. The company has a market capitalization of $37.59 million, a price-to-earnings ratio of -17.98 and a beta of 0.95.

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

Institutional Trading of Ark Restaurants

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted 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 worth $251,000 after buying an additional 7,017 shares in the last quarter. Empowered Funds LLC raised its holdings 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 acquiring an additional 967 shares in the last quarter. Aristides Capital LLC lifted its stake in Ark Restaurants by 9.2% in the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after acquiring an additional 1,733 shares during the last quarter. Finally, Northern Trust Corp acquired a new position in Ark Restaurants during the 4th quarter worth approximately $147,000. 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.