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

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Thursday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

ARKR opened at $9.71 on Thursday. Ark Restaurants has a fifty-two week low of $8.88 and a fifty-two week high of $17.76. The firm has a market capitalization of $34.99 million, a price-to-earnings ratio of -16.74 and a beta of 0.99. The company’s 50 day moving average price is $11.46 and its two-hundred day moving average price is $11.67.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ARKR. Empowered Funds LLC boosted its position in shares of Ark Restaurants by 4.9% during the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 967 shares in the last quarter. Aristides Capital LLC increased its holdings in shares of Ark Restaurants by 9.2% during the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after acquiring an additional 1,733 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Ark Restaurants by 50.4% during the third 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 period. Finally, Northern Trust Corp bought a new position in shares of Ark Restaurants in the 4th quarter worth $147,000. 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.