Ark Restaurants Corp. (NASDAQ:ARKR – Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 10,000 shares, a growth of 35.1% from the August 15th total of 7,400 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily volume of 3,500 shares, the short-interest ratio is currently 2.9 days.
Institutional Investors Weigh In On Ark Restaurants
An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC lifted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR – Free Report) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,544 shares of the restaurant operator’s stock after acquiring an additional 1,225 shares during the period. Empowered Funds LLC owned approximately 0.49% of Ark Restaurants worth $246,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 31.95% of the company’s stock.
Ark Restaurants Stock Down 1.2 %
Shares of ARKR stock traded down $0.14 during trading hours on Friday, hitting $11.52. 2,305 shares of the company’s stock traded hands, compared to its average volume of 3,060. The stock’s fifty day simple moving average is $12.74 and its two-hundred day simple moving average is $13.66. Ark Restaurants has a 12-month low of $10.27 and a 12-month high of $16.25. The stock has a market cap of $41.47 million, a price-to-earnings ratio of -5.70 and a beta of 1.01.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on shares of Ark Restaurants in a report on Sunday, September 8th. They set a “buy” rating for the company.
Check Out Our Latest Analysis on ARKR
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.
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