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

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

Ark Restaurants Price Performance

ARKR stock opened at $10.20 on Thursday. The stock has a market cap of $36.76 million, a price-to-earnings ratio of -17.59 and a beta of 0.99. The company has a 50 day simple moving average of $11.55 and a 200 day simple moving average of $11.68. Ark Restaurants has a 1 year low of $8.88 and a 1 year high of $17.76.

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

Hedge Funds Weigh In On Ark Restaurants

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake 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 valued at $251,000 after buying an additional 7,017 shares during the period. Empowered Funds LLC increased its position in Ark Restaurants by 4.9% in the 4th 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 during the period. Aristides Capital LLC increased its position in 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 acquiring an additional 1,733 shares during the period. Finally, Northern Trust Corp bought a new position in shares of Ark Restaurants during the fourth quarter valued at $147,000. 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.