Ark Restaurants (NASDAQ:ARKR) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Ark Restaurants Corp. (NASDAQ:ARKR) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $5.99 and traded as low as $4.50. Ark Restaurants shares last traded at $4.50, with a volume of 1,235 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ark Restaurants in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Ark Restaurants Trading Down 2.8%

The stock has a market cap of $16.12 million, a PE ratio of -5.08 and a beta of 0.37. The company’s fifty day moving average is $5.14 and its 200-day moving average is $5.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.78 and a quick ratio of 0.68.

Ark Restaurants (NASDAQ:ARKR) last posted its quarterly earnings results on Monday, August 10th. The restaurant operator reported ($0.10) EPS for the quarter. The business had revenue of $40.88 million during the quarter. Ark Restaurants had a negative net margin of 2.04% and a negative return on equity of 10.61%.

Insider Activity

In other news, CEO Michael Lawrence Weinstein sold 176,701 shares of the company’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $4.57, for a total value of $807,523.57. Following the sale, the chief executive officer owned 856,111 shares in the company, valued at $3,912,427.27. This represents a 17.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 37.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ark Restaurants stock. Empowered Funds LLC purchased a new stake in Ark Restaurants Corp. (NASDAQ:ARKR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,300 shares of the restaurant operator’s stock, valued at approximately $137,000. Empowered Funds LLC owned 0.65% of Ark Restaurants at the end of the most recent quarter. Hedge funds and other institutional investors own 31.95% of the company’s stock.

Ark Restaurants Company Profile

Ark Restaurants Corp. is a restaurant owner and operator that develops and manages a portfolio of full-service dining establishments in the United States. Its restaurants offer a variety of cuisines and dining formats, including steakhouses, seafood restaurants, Italian dining, casual restaurants, sports bars and other specialty concepts.

The company operates a collection of individual restaurant brands and concepts rather than relying on a single national chain. Its portfolio has included establishments such as Bryant & Cooper Steakhouse, Jackson Hole, and other dining venues serving meals, beverages and, in some locations, catering or private-event customers.

Ark Restaurants serves customers primarily in major metropolitan and resort markets, including New York City and Long Island, Florida, Las Vegas and Washington, DC The company was established in 1983 and is headquartered in New York.