Ark Restaurants (NASDAQ:ARKR) Shares Pass Above 200-Day Moving Average – Should You Sell?

Ark Restaurants Corp. (NASDAQ:ARKR) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.16 and traded as high as $13.77. Ark Restaurants shares last traded at $13.46, with a volume of 3,100 shares.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Ark Restaurants in a report on Thursday. They issued a “buy” rating on the stock.

Ark Restaurants Stock Performance

The firm’s 50 day simple moving average is $12.48 and its 200-day simple moving average is $12.16. The company has a market capitalization of $48.46 million, a price-to-earnings ratio of -12.46 and a beta of 0.94.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC increased its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,709 shares of the restaurant operator’s stock after purchasing an additional 967 shares during the period. Empowered Funds LLC owned approximately 0.58% of Ark Restaurants worth $228,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.