Ark Restaurants (NASDAQ:ARKR) Earns Buy Rating from Analysts at StockNews.com

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

Ark Restaurants Stock Performance

Shares of ARKR stock opened at $11.29 on Friday. Ark Restaurants has a 52-week low of $9.75 and a 52-week high of $17.76. The company has a market capitalization of $40.64 million, a PE ratio of -10.45 and a beta of 0.95. The business’s fifty day moving average is $12.94 and its 200 day moving average is $12.08.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings results on Monday, February 10th. The restaurant operator reported $0.18 earnings per share for the quarter. Ark Restaurants had a positive return on equity of 5.68% and a negative net margin of 2.12%.

Institutional Investors Weigh In On Ark Restaurants

A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in Ark Restaurants by 50.4% in the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after purchasing an additional 7,017 shares in the last quarter. Empowered Funds LLC lifted its stake in 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 Ark Restaurants by 9.2% in the 4th quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Northern Trust Corp purchased a new stake in Ark Restaurants in the 4th quarter worth $147,000. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

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.