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

Investment analysts at StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Monday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

Shares of Ark Restaurants stock opened at $11.79 on Monday. The firm has a market capitalization of $42.49 million, a PE ratio of -5.84 and a beta of 1.01. The company’s fifty day moving average price is $12.68 and its two-hundred day moving average price is $13.63. Ark Restaurants has a 52-week low of $10.27 and a 52-week high of $16.25.

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

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC grew its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,544 shares of the restaurant operator’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned about 0.49% of Ark Restaurants worth $246,000 as of its most recent filing with the SEC. Institutional investors and hedge funds 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.