Ark Restaurants (NASDAQ:ARKR) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Ark Restaurants Corp. (NASDAQ:ARKR) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.16 and traded as high as $13.77. Ark Restaurants shares last traded at $13.46, with a volume of 3,100 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Ark Restaurants in a research report on Thursday. They set a “buy” rating on the stock.

Ark Restaurants Stock Up 2.4 %

The stock has a 50 day simple moving average of $12.48 and a 200 day simple moving average of $12.16. The company has a market capitalization of $48.46 million, a price-to-earnings ratio of -12.46 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 boosted its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing. 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.