Ark Restaurants (NASDAQ:ARKR) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a note issued to investors on Monday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Up 15.4 %

Shares of ARKR stock opened at $14.73 on Monday. The business has a 50-day moving average price of $11.24 and a two-hundred day moving average price of $12.10. Ark Restaurants has a 12-month low of $9.75 and a 12-month high of $16.25. The firm has a market cap of $53.09 million, a P/E ratio of -5.42 and a beta of 0.94.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC lifted its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,949 shares of the restaurant operator’s stock after buying 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 SEC filing. 31.95% of the stock is owned by hedge funds and other 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.