Ark Restaurants (NASDAQ:ARKR) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Friday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Up 0.9 %

Shares of ARKR stock opened at $11.80 on Friday. The stock has a market capitalization of $42.53 million, a PE ratio of -5.84 and a beta of 1.01. Ark Restaurants has a 52-week low of $10.27 and a 52-week high of $16.25. The stock’s 50-day moving average price is $12.03 and its 200 day moving average price is $13.30.

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 firm had revenue of $50.40 million for the quarter. Ark Restaurants had a positive return on equity of 0.14% and a negative net margin of 5.31%.

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC grew its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the restaurant operator’s stock after purchasing an additional 15,393 shares during the period. Ark Restaurants makes up about 2.3% of CM Management LLC’s holdings, making the stock its 13th biggest position. CM Management LLC owned approximately 5.55% of Ark Restaurants worth $2,622,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 31.95% of the company’s stock.

Ark Restaurants Company Profile

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.