Ark Restaurants (NASDAQ:ARKR) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Ark Restaurants Corp. (NASDAQ:ARKR)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.15 and traded as high as $13.36. Ark Restaurants shares last traded at $13.00, with a volume of 2,971 shares traded.

Wall Street Analyst Weigh In

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

Ark Restaurants Stock Down 1.7 %

The firm’s 50 day simple moving average is $12.95 and its 200 day simple moving average is $12.15. The company has a market cap of $46.01 million, a price-to-earnings ratio of -11.83 and a beta of 0.95.

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 Ark Restaurants Corp. (NASDAQ:ARKR) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,709 shares of the restaurant operator’s stock after acquiring an additional 967 shares during the period. Empowered Funds LLC owned about 0.58% of Ark Restaurants worth $228,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 31.95% of the company’s stock.

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.