StockNews.com Initiates Coverage on Ark Restaurants (NASDAQ:ARKR)

Equities research analysts at StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a note issued to investors on Friday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

ARKR opened at $9.25 on Friday. The company has a fifty day moving average price of $11.06 and a two-hundred day moving average price of $11.61. The firm has a market capitalization of $33.34 million, a PE ratio of -15.95 and a beta of 0.99. Ark Restaurants has a 52 week low of $8.88 and a 52 week high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last released 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 Trading of Ark Restaurants

Several large investors have recently modified their holdings of the stock. Northern Trust Corp bought a new position in shares of Ark Restaurants in the fourth quarter worth about $147,000. Aristides Capital LLC lifted its holdings in shares of Ark Restaurants by 9.2% in the 4th 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. Empowered Funds LLC boosted its holdings in shares of Ark Restaurants by 4.9% during the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock valued at $228,000 after buying an additional 967 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Ark Restaurants by 50.4% during the 3rd 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 last quarter. 31.95% of the stock is owned by institutional investors and hedge funds.

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.