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 research report issued on Wednesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

Shares of NASDAQ:ARKR opened at $13.64 on Wednesday. Ark Restaurants has a fifty-two week low of $9.75 and a fifty-two week high of $17.76. The business has a 50-day moving average of $12.08 and a two-hundred day moving average of $12.15. The stock has a market capitalization of $49.09 million, a P/E ratio of -12.63 and a beta of 0.94.

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC increased its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 20,949 shares of the restaurant operator’s stock after purchasing an additional 7,017 shares during the period. Geode Capital Management LLC owned approximately 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 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.