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

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 1.8 %

Shares of Ark Restaurants stock opened at $9.82 on Wednesday. The company has a 50 day moving average price of $11.06 and a 200 day moving average price of $12.64. The firm has a market capitalization of $35.35 million, a P/E ratio of -3.61 and a beta of 1.02. Ark Restaurants has a 52 week low of $9.77 and a 52 week high of $16.25.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC boosted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm 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 about 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 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.