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

Equities researchers at StockNews.com began 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

Ark Restaurants stock opened at $10.10 on Tuesday. The stock’s fifty day moving average price is $11.35 and its two-hundred day moving average price is $12.83. The firm has a market cap of $36.36 million, a PE ratio of -3.74 and a beta of 1.02. Ark Restaurants has a one year low of $9.78 and a one year high of $16.25.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC raised its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the restaurant operator’s stock after purchasing an additional 15,393 shares during the quarter. Ark Restaurants accounts for about 2.3% of CM Management LLC’s holdings, making the stock its 13th biggest holding. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent reporting period. 31.95% of the stock is owned by hedge funds and other institutional investors.

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.