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

StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued to investors on Wednesday morning. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

Ark Restaurants stock opened at $10.35 on Wednesday. The firm has a 50-day moving average of $12.07 and a 200-day moving average of $11.78. Ark Restaurants has a one year low of $9.75 and a one year high of $17.76. The company has a market cap of $37.30 million, a price-to-earnings ratio of -17.84 and a beta of 0.99.

Ark Restaurants (NASDAQ:ARKR) last issued its earnings results on Monday, February 10th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter. Ark Restaurants had a negative net margin of 1.16% and a positive return on equity of 4.22%.

Institutional Investors Weigh In On Ark Restaurants

Hedge funds have recently bought and sold shares of the stock. Northern Trust Corp acquired a new stake in Ark Restaurants during the fourth quarter worth approximately $147,000. Aristides Capital LLC increased its holdings in shares of Ark Restaurants by 9.2% during the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after purchasing an additional 1,733 shares during the period. Empowered Funds LLC increased its holdings in shares of Ark Restaurants by 4.9% during 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 during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Ark Restaurants by 50.4% during the third quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after purchasing an additional 7,017 shares during the period. 31.95% of the stock is currently 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.