Ark Restaurants Corp. (NASDAQ:ARKR) Short Interest Up 482.8% in December

Ark Restaurants Corp. (NASDAQ:ARKR) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 33,800 shares, a growth of 482.8% from the November 30th total of 5,800 shares. Based on an average daily volume of 9,000 shares, the short-interest ratio is presently 3.8 days. Approximately 1.9% of the shares of the company are sold short.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC increased its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,949 shares of the restaurant operator’s stock after buying an additional 7,017 shares during the quarter. Geode Capital Management LLC owned about 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 31.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Ark Restaurants in a report on Saturday, December 21st. They issued a “buy” rating for the company.

Ark Restaurants Price Performance

Shares of NASDAQ ARKR traded down $0.05 during mid-day trading on Thursday, reaching $10.95. 3,994 shares of the company traded hands, compared to its average volume of 5,030. Ark Restaurants has a fifty-two week low of $9.75 and a fifty-two week high of $16.25. The firm has a market cap of $39.46 million, a PE ratio of -4.03 and a beta of 0.98. The stock has a fifty day simple moving average of $11.22 and a 200-day simple moving average of $12.24.

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.