Ark Restaurants Corp. (NASDAQ:ARKR) Short Interest Down 35.7% in March

Ark Restaurants Corp. (NASDAQ:ARKR) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 13,700 shares, a drop of 35.7% from the March 15th total of 21,300 shares. Based on an average daily volume of 6,600 shares, the short-interest ratio is presently 2.1 days. Approximately 0.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Ark Restaurants in a report on Saturday, April 12th. They issued a “buy” rating for the company.

Ark Restaurants Price Performance

ARKR opened at $8.60 on Thursday. The company’s 50 day moving average price is $10.23 and its two-hundred day moving average price is $11.41. Ark Restaurants has a fifty-two week low of $8.25 and a fifty-two week high of $17.76. The firm has a market capitalization of $30.99 million, a price-to-earnings ratio of -14.83 and a beta of 0.65.

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

Institutional Investors Weigh In On Ark Restaurants

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Ark Restaurants by 50.4% in the third quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock valued at $251,000 after acquiring an additional 7,017 shares in the last quarter. Empowered Funds LLC lifted its holdings 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 valued at $228,000 after purchasing an additional 967 shares during the last quarter. Aristides Capital LLC boosted its holdings in Ark Restaurants by 9.2% in the fourth 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 in the last quarter. Finally, Northern Trust Corp purchased a new stake in Ark Restaurants during the 4th quarter valued at about $147,000. 31.95% of the stock is currently owned by institutional investors.

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.