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

Investment analysts at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Monday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

Shares of NASDAQ:ARKR opened at $9.01 on Monday. Ark Restaurants has a one year low of $8.25 and a one year high of $17.76. The company has a market cap of $32.47 million, a price-to-earnings ratio of -15.53 and a beta of 0.65. The firm has a 50 day simple moving average of $9.72 and a 200 day simple moving average of $11.22.

Ark Restaurants (NASDAQ:ARKR) last posted its earnings results on Monday, February 10th. The restaurant operator reported $0.18 EPS for the quarter. Ark Restaurants had a positive return on equity of 4.22% and a negative net margin of 1.16%.

Hedge Funds Weigh In On Ark Restaurants

A number of hedge funds have recently made changes to their positions in ARKR. Geode Capital Management LLC grew its holdings in Ark Restaurants by 50.4% during the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after acquiring an additional 7,017 shares during the period. Empowered Funds LLC lifted its holdings in shares of Ark Restaurants by 4.9% in the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 967 shares in the last quarter. Aristides Capital LLC lifted its stake in shares of Ark Restaurants by 9.2% in the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after buying an additional 1,733 shares in the last quarter. Finally, Northern Trust Corp acquired a new position in Ark Restaurants during the 4th quarter valued at about $147,000. 31.95% of the stock is currently owned by institutional investors.

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.