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

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

Ark Restaurants Stock Up 2.9 %

ARKR stock opened at $14.30 on Tuesday. The stock has a market capitalization of $51.54 million, a P/E ratio of -13.24 and a beta of 0.94. The firm has a 50-day simple moving average of $11.94 and a 200-day simple moving average of $12.16. Ark Restaurants has a 52 week low of $9.75 and a 52 week high of $17.76.

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC lifted its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,949 shares of the restaurant operator’s stock after acquiring an additional 7,017 shares during the quarter. Geode Capital Management LLC owned 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.