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

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

Ark Restaurants Stock Performance

Shares of ARKR stock opened at $10.62 on Monday. Ark Restaurants has a fifty-two week low of $9.75 and a fifty-two week high of $17.76. The firm has a market capitalization of $38.27 million, a price-to-earnings ratio of -18.31 and a beta of 0.95. The stock’s 50-day simple moving average is $12.60 and its 200-day simple moving average is $11.95.

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

Institutional Investors Weigh In On Ark Restaurants

Large investors have recently bought and sold shares of the company. Northern Trust Corp purchased a new stake in Ark Restaurants in the fourth quarter valued at approximately $147,000. Aristides Capital LLC boosted its position 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. Empowered Funds LLC boosted 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 valued at $228,000 after buying an additional 967 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Ark Restaurants by 50.4% in the third quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock valued at $251,000 after buying an additional 7,017 shares during the last quarter. Hedge funds and other institutional investors own 31.95% of the company’s stock.

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.