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

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

Ark Restaurants Stock Up 4.4 %

Shares of NASDAQ ARKR opened at $11.49 on Friday. The company has a market cap of $41.41 million, a price-to-earnings ratio of -4.22 and a beta of 0.98. The firm’s fifty day moving average is $11.20 and its 200 day moving average is $12.19. Ark Restaurants has a 52 week low of $9.75 and a 52 week high of $16.25.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC lifted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,949 shares of the restaurant operator’s stock after acquiring an additional 7,017 shares during the period. Geode Capital Management LLC owned approximately 0.58% of Ark Restaurants worth $251,000 as of its most recent filing with the Securities & Exchange Commission. 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.