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

Equities research analysts at StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report released on Saturday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Trading Up 1.7 %

Shares of ARKR opened at $11.29 on Friday. Ark Restaurants has a 12-month low of $9.75 and a 12-month high of $16.25. The company has a market cap of $40.69 million, a PE ratio of -4.15 and a beta of 0.98. The stock has a 50-day moving average price of $11.27 and a 200-day moving average price of $12.34.

Institutional Investors Weigh In On Ark Restaurants

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