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

Investment analysts at StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued on Monday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Up 15.4 %

Shares of ARKR opened at $14.73 on Monday. The stock has a market capitalization of $53.09 million, a P/E ratio of -5.42 and a beta of 0.94. Ark Restaurants has a twelve month low of $9.75 and a twelve month high of $16.25. The firm has a fifty day simple moving average of $11.24 and a two-hundred day simple moving average of $12.10.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC raised 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 and Exchange Commission. The firm owned 20,949 shares of the restaurant operator’s stock after purchasing an additional 7,017 shares during the quarter. Geode Capital Management LLC owned approximately 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 31.95% of the stock is 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.