Ark Restaurants (NASDAQ:ARKR) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued on Saturday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

ARKR opened at $11.29 on Friday. The firm’s fifty day moving average price is $13.02 and its two-hundred day moving average price is $12.12. Ark Restaurants has a fifty-two week low of $9.75 and a fifty-two week high of $17.76. The company has a market capitalization of $40.69 million, a P/E ratio of -10.45 and a beta of 0.95.

Ark Restaurants (NASDAQ:ARKR) last announced its quarterly earnings results on Monday, February 10th. The restaurant operator reported $0.18 EPS for the quarter. Ark Restaurants had a positive return on equity of 5.68% and a negative net margin of 2.12%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC boosted its stake in Ark Restaurants by 4.9% in the fourth quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 967 shares in the last quarter. Aristides Capital LLC raised its holdings in shares of Ark Restaurants by 9.2% in the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after buying an additional 1,733 shares during the last quarter. Geode Capital Management LLC lifted its position in Ark Restaurants by 50.4% during the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after buying an additional 7,017 shares in the last quarter. Finally, Northern Trust Corp bought a new stake in Ark Restaurants during the 4th quarter worth about $147,000. 31.95% of the stock is owned by institutional investors and hedge funds.

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.