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

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

Ark Restaurants Stock Down 4.1 %

NASDAQ:ARKR opened at $10.89 on Friday. Ark Restaurants has a 12-month low of $9.75 and a 12-month high of $17.76. The stock’s 50 day moving average price is $12.67 and its two-hundred day moving average price is $12.02. The firm has a market capitalization of $39.25 million, a price-to-earnings ratio of -18.78 and a beta of 0.95.

Ark Restaurants (NASDAQ:ARKR) last announced its quarterly earnings results on Monday, February 10th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter. Ark Restaurants had a positive return on equity of 4.22% and a negative net margin of 1.16%.

Institutional Trading of Ark Restaurants

Several hedge funds and other institutional investors have recently modified their holdings of ARKR. Northern Trust Corp acquired a new stake in Ark Restaurants during the fourth quarter worth approximately $147,000. Aristides Capital LLC grew its position in shares of 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 purchasing an additional 1,733 shares during the last quarter. Empowered Funds LLC increased its stake in shares of 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 lifted its holdings 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 worth $251,000 after purchasing an additional 7,017 shares during the last quarter. Institutional investors 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.