Ark Restaurants (NASDAQ:ARKR) Earns Buy Rating from Analysts at StockNews.com

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 Thursday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

ARKR stock opened at $13.46 on Thursday. The company’s 50 day simple moving average is $12.48 and its 200-day simple moving average is $12.16. Ark Restaurants has a 52-week low of $9.75 and a 52-week high of $17.76. The firm has a market capitalization of $48.46 million, a P/E ratio of -12.46 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 increased its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to the company in 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 quarter. Geode Capital Management LLC owned approximately 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. Institutional investors 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.