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

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

Ark Restaurants Stock Down 0.7%

Shares of Ark Restaurants stock opened at $10.62 on Wednesday. Ark Restaurants has a fifty-two week low of $8.25 and a fifty-two week high of $17.76. The firm has a market cap of $38.23 million, a PE ratio of -18.31 and a beta of 0.64. The business’s fifty day moving average is $9.72 and its two-hundred day moving average is $11.14.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings results on Monday, May 12th. The restaurant operator reported ($1.62) 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%. The business had revenue of $39.73 million for the quarter.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Empowered Funds LLC raised its position in shares of Ark Restaurants by 4.9% in the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after buying an additional 967 shares during the period. Aristides Capital LLC raised its position in shares of Ark Restaurants by 9.2% in the 4th quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after buying an additional 1,733 shares during the period. Finally, Northern Trust Corp purchased a new position in shares of Ark Restaurants in the 4th quarter worth $147,000. 31.95% of the stock is owned by hedge funds and other institutional investors.

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.