Ark Restaurants (NASDAQ:ARKR) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued on Wednesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 0.6 %

Shares of Ark Restaurants stock opened at $10.00 on Wednesday. The business has a fifty day simple moving average of $11.11 and a 200 day simple moving average of $12.66. The stock has a market cap of $36 million, a PE ratio of -3.68 and a beta of 1.02. Ark Restaurants has a 12 month low of $9.78 and a 12 month high of $16.25.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC grew its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the period. Ark Restaurants makes up 2.3% of CM Management LLC’s portfolio, making the stock its 13th largest position. CM Management LLC owned approximately 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent quarter. 31.95% of the stock is owned by institutional investors and hedge funds.

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.