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

Stock analysts at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report released on Wednesday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

NASDAQ:ARKR opened at $10.01 on Wednesday. The firm has a market cap of $36.06 million, a PE ratio of -17.25 and a beta of 0.99. The firm has a 50 day simple moving average of $12.15 and a 200-day simple moving average of $11.79. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $17.76.

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

Institutional Trading of Ark Restaurants

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