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

Stock analysts at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a note issued to investors on Tuesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Trading Up 1.7 %

ARKR opened at $10.17 on Tuesday. The business has a 50 day moving average of $12.51 and a 200-day moving average of $11.88. The stock has a market capitalization of $36.65 million, a price-to-earnings ratio of -17.53 and a beta of 0.99. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly 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 institutional investors have recently modified their holdings of the company. Northern Trust Corp bought a new position in Ark Restaurants in the fourth quarter worth $147,000. Aristides Capital LLC increased its stake in Ark Restaurants by 9.2% in the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after acquiring an additional 1,733 shares during the period. Empowered Funds LLC lifted its stake in 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 purchasing an additional 967 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Ark Restaurants by 50.4% in the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock valued at $251,000 after purchasing an additional 7,017 shares during the period. Institutional investors and hedge funds 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.