Ark Restaurants Corp. (NASDAQ:ARKR) Sees Large Decrease in Short Interest

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

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Ark Restaurants in a research note on Monday. They issued a “buy” rating on the stock.

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC grew its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,544 shares of the restaurant operator’s stock after buying an additional 1,225 shares during the period. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 at the end of the most recent reporting period. 31.95% of the stock is currently owned by institutional investors and hedge funds.

Ark Restaurants Price Performance

Shares of NASDAQ ARKR traded down $0.14 during mid-day trading on Friday, reaching $10.25. 688 shares of the company’s stock were exchanged, compared to its average volume of 3,726. The firm has a market capitalization of $36.90 million, a price-to-earnings ratio of -3.77 and a beta of 1.02. Ark Restaurants has a 52 week low of $9.80 and a 52 week high of $16.25. The firm has a 50-day moving average price of $11.44 and a two-hundred day moving average price of $12.91.

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

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.