Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Decreases By 29.3%

Ark Restaurants Corp. (NASDAQ:ARKR) saw a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 23,200 shares, a drop of 29.3% from the January 31st total of 32,800 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 9,000 shares, the short-interest ratio is presently 2.6 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp bought a new stake in shares of Ark Restaurants in the fourth quarter worth $147,000. Aristides Capital LLC lifted its holdings in Ark Restaurants by 9.2% in the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after acquiring an additional 1,733 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Ark Restaurants by 4.9% during the fourth quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock valued at $228,000 after purchasing an additional 967 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 7,017 shares during the period. 31.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Ark Restaurants in a report on Monday. They issued a “buy” rating for the company.

Ark Restaurants Trading Down 2.4 %

ARKR traded down $0.26 during midday trading on Tuesday, hitting $10.56. The company’s stock had a trading volume of 1,536 shares, compared to its average volume of 5,561. Ark Restaurants has a 52-week low of $9.75 and a 52-week high of $17.76. The firm has a 50-day moving average price of $12.62 and a two-hundred day moving average price of $11.98. The firm has a market cap of $38.06 million, a P/E ratio of -18.21 and a beta of 0.95.

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

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.