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

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

Ark Restaurants Trading Up 4.4 %

Shares of ARKR stock opened at $11.49 on Friday. Ark Restaurants has a 12-month low of $9.75 and a 12-month high of $16.25. The stock has a market capitalization of $41.41 million, a P/E ratio of -4.22 and a beta of 0.98. The firm’s 50 day moving average is $11.20 and its 200 day moving average is $12.19.

Institutional Inflows and Outflows

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% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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. 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.