StockNews.com Begins Coverage on Ark Restaurants (NASDAQ:ARKR)

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note published on Monday morning. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

NASDAQ ARKR opened at $10.38 on Monday. The stock has a market cap of $37.37 million, a P/E ratio of -3.82 and a beta of 1.02. Ark Restaurants has a twelve month low of $10.06 and a twelve month high of $16.25. The company’s 50-day simple moving average is $11.52 and its 200 day simple moving average is $12.94.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings data on Monday, August 12th. The restaurant operator reported $0.72 earnings per share for the quarter. The company had revenue of $50.40 million for the quarter. Ark Restaurants had a positive return on equity of 0.14% and a negative net margin of 5.31%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC lifted its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 200,000 shares of the restaurant operator’s stock after purchasing an additional 15,393 shares during the period. Ark Restaurants accounts for about 2.3% of CM Management LLC’s portfolio, making the stock its 13th largest position. CM Management LLC owned 5.55% of Ark Restaurants worth $2,622,000 as of its most recent SEC filing. Institutional investors own 31.95% of the company’s stock.

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.