Ark Restaurants (NASDAQ:ARKR) Earns Buy Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com began 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 Stock Down 0.6 %

ARKR stock opened at $9.71 on Thursday. The business has a 50 day moving average of $11.46 and a 200-day moving average of $11.67. The firm has a market cap of $34.99 million, a PE ratio of -16.74 and a beta of 0.99. Ark Restaurants has a 12-month low of $8.88 and a 12-month high of $17.76.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of 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 period. Empowered Funds LLC boosted its holdings in 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 boosted its holdings in 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 bought a new stake in Ark Restaurants during the 4th quarter valued at $147,000. 31.95% of the stock is owned by institutional investors.

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.