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

Equities researchers at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

Shares of ARKR stock opened at $11.30 on Wednesday. The stock has a market cap of $40.68 million, a PE ratio of -19.48 and a beta of 0.64. The stock has a 50-day moving average of $9.74 and a 200-day moving average of $11.14. Ark Restaurants has a one year low of $8.25 and a one year high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings data on Monday, May 12th. The restaurant operator reported ($1.62) 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%. The firm had revenue of $39.73 million for the quarter.

Hedge Funds Weigh In On Ark Restaurants

Several institutional investors and hedge funds have recently made changes to their positions in ARKR. Northern Trust Corp bought a new position in Ark Restaurants during the fourth quarter worth about $147,000. Aristides Capital LLC increased its holdings in shares of 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 in the last quarter. Finally, Empowered Funds LLC raised its position in shares of 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. Institutional investors and hedge funds 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.