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

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

Ark Restaurants Trading Down 7.9 %

Shares of NASDAQ:ARKR opened at $14.33 on Monday. The company has a market cap of $51.65 million, a price-to-earnings ratio of -5.27 and a beta of 0.94. Ark Restaurants has a 12 month low of $9.75 and a 12 month high of $17.76. The company has a 50-day moving average price of $11.43 and a 200-day moving average price of $12.11.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC raised its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,949 shares of the restaurant operator’s stock after buying an additional 7,017 shares during the quarter. Geode Capital Management LLC owned about 0.58% of Ark Restaurants worth $251,000 at the end of the most recent quarter. 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.