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

StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note published on Thursday. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

Ark Restaurants stock opened at $10.20 on Thursday. The firm has a market cap of $36.76 million, a price-to-earnings ratio of -17.59 and a beta of 0.99. Ark Restaurants has a 52-week low of $8.88 and a 52-week high of $17.76. The firm has a 50 day moving average price of $11.55 and a two-hundred day moving average price of $11.68.

Ark Restaurants (NASDAQ:ARKR) last announced its earnings results on Monday, February 10th. The restaurant operator reported $0.18 earnings per share 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

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Ark Restaurants by 50.4% in the third quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock valued at $251,000 after buying an additional 7,017 shares during the period. Empowered Funds LLC increased its stake in shares of Ark Restaurants by 4.9% in the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock valued at $228,000 after acquiring an additional 967 shares in the last quarter. Aristides Capital LLC lifted its position in shares of Ark Restaurants by 9.2% during the 4th quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after acquiring an additional 1,733 shares during the period. Finally, Northern Trust Corp bought a new position in Ark Restaurants during the fourth quarter worth $147,000. Institutional investors own 31.95% of the company’s stock.

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.