Ark Restaurants (NASDAQ:ARKR) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Tuesday morning. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 1.8 %

NASDAQ:ARKR opened at $9.99 on Tuesday. The company has a market cap of $36.00 million, a PE ratio of -17.22 and a beta of 0.99. The business’s 50 day moving average is $12.46 and its two-hundred day moving average is $11.86. Ark Restaurants has a 52 week low of $9.75 and a 52 week high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last posted its quarterly earnings results on Monday, February 10th. The restaurant operator reported $0.18 earnings per share (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 and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of 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 during the last quarter. Empowered Funds LLC increased its position in Ark Restaurants by 4.9% in the fourth quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after buying an additional 967 shares during the period. Aristides Capital LLC lifted its stake in 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 during the last quarter. Finally, Northern Trust Corp acquired a new position in shares of Ark Restaurants during the fourth quarter valued at $147,000. 31.95% of the stock is currently owned by institutional investors and hedge funds.

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.