Ark Restaurants (NASDAQ:ARKR) Share Price Crosses Below 200-Day Moving Average of $13.57

Ark Restaurants Corp. (NASDAQ:ARKR) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.57 and traded as low as $11.76. Ark Restaurants shares last traded at $11.78, with a volume of 6,452 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Ark Restaurants in a research report on Tuesday. They set a “buy” rating for the company.

Ark Restaurants Stock Down 5.3 %

The business has a 50-day simple moving average of $12.57 and a 200-day simple moving average of $13.57. The company has a market cap of $42.46 million, a PE ratio of -5.83 and a beta of 1.01.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter. The business had revenue of $50.40 million for the quarter. Ark Restaurants had a negative net margin of 5.31% and a positive return on equity of 0.14%.

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC raised its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the period. Ark Restaurants comprises about 2.3% of CM Management LLC’s holdings, making the stock its 13th largest position. CM Management LLC owned 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent quarter. 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.