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 Tuesday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

ARKR stock opened at $10.25 on Tuesday. The firm has a 50 day moving average of $11.41 and a 200-day moving average of $12.88. The firm has a market capitalization of $36.94 million, a P/E ratio of -3.77 and a beta of 1.02. Ark Restaurants has a 12 month low of $9.80 and a 12 month high of $16.25.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC boosted its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,949 shares of the restaurant operator’s stock after acquiring an additional 7,017 shares during the quarter. Geode Capital Management LLC owned 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 31.95% of the company’s stock.

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.