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

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

Ark Restaurants Price Performance

Shares of ARKR stock opened at $9.99 on Wednesday. The firm has a market cap of $36.00 million, a price-to-earnings ratio of -17.22 and a beta of 0.99. The stock’s fifty day simple moving average is $11.88 and its 200 day simple moving average is $11.75. Ark Restaurants has a one year low of $9.74 and a one year high of $17.76.

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

Institutional Investors Weigh In On Ark Restaurants

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its position 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 acquiring an additional 7,017 shares during the last quarter. Empowered Funds LLC raised its position 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 acquiring an additional 967 shares during the last quarter. Aristides Capital LLC raised its position 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 acquiring an additional 1,733 shares during the last quarter. Finally, Northern Trust Corp bought a new stake in shares of 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.