Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Declines By 43.6%

Ark Restaurants Corp. (NASDAQ:ARKR) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 7,500 shares, a drop of 43.6% from the October 15th total of 13,300 shares. Based on an average daily volume of 5,800 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.4% of the shares of the stock are short sold.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC raised its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the quarter. Ark Restaurants comprises about 2.3% of CM Management LLC’s investment portfolio, making the stock its 13th biggest position. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 as of its most recent filing with the SEC. 31.95% of the stock is owned by institutional investors and hedge funds.

Ark Restaurants Stock Performance

Shares of NASDAQ:ARKR opened at $10.38 on Wednesday. The business’s fifty day moving average price is $11.55 and its two-hundred day moving average price is $12.97. The stock has a market cap of $37.41 million, a PE ratio of -3.82 and a beta of 1.02. Ark Restaurants has a one year low of $10.06 and a one year high of $16.25.

Ark Restaurants (NASDAQ:ARKR) last announced its earnings results on Monday, August 12th. The restaurant operator reported $0.72 EPS for the quarter. The firm had revenue of $50.40 million for the quarter. Ark Restaurants had a positive return on equity of 0.14% and a negative net margin of 5.31%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Ark Restaurants in a research report on Monday. They set a “buy” rating for the company.

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.