Ark Restaurants Corp. (NASDAQ:ARKR) Short Interest Update

Ark Restaurants Corp. (NASDAQ:ARKR) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 5,800 shares, a decline of 20.5% from the November 15th total of 7,300 shares. Based on an average daily volume of 9,700 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.3% of the shares of the stock are short sold.

Ark Restaurants Price Performance

ARKR traded down $0.62 during midday trading on Friday, reaching $13.48. 2,008 shares of the company’s stock were exchanged, compared to its average volume of 5,079. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $16.25. The stock has a market capitalization of $48.53 million, a PE ratio of -4.96 and a beta of 0.98. The business’s 50-day moving average price is $11.32 and its 200 day moving average price is $12.45.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC raised its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 200,000 shares of the restaurant operator’s stock after acquiring an additional 15,393 shares during the quarter. Ark Restaurants makes up 2.3% of CM Management LLC’s portfolio, making the stock its 13th biggest holding. CM Management LLC owned approximately 5.55% of Ark Restaurants worth $2,622,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 31.95% of the company’s stock.

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.