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

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

Ark Restaurants Price Performance

ARKR opened at $14.15 on Tuesday. The stock has a market cap of $51.00 million, a P/E ratio of -5.20 and a beta of 0.94. The stock’s 50 day simple moving average is $11.73 and its 200 day simple moving average is $12.13. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $17.76.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC grew its stake 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 SEC. The institutional investor 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 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 31.95% of the stock is currently owned by institutional investors and hedge funds.

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.