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

Equities research analysts at StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report released on Friday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

Ark Restaurants stock opened at $9.25 on Friday. The company has a market cap of $33.34 million, a PE ratio of -15.95 and a beta of 0.99. Ark Restaurants has a 1-year low of $8.88 and a 1-year high of $17.76. The stock’s 50 day moving average price is $11.06 and its 200 day moving average price is $11.61.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly 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 Investors Weigh In On Ark Restaurants

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC grew its holdings in shares of Ark Restaurants by 4.9% during 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 in the last quarter. Aristides Capital LLC raised 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 acquiring an additional 1,733 shares during the period. Geode Capital Management LLC lifted its position in Ark Restaurants by 50.4% during the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after acquiring an additional 7,017 shares during the last quarter. Finally, Northern Trust Corp bought a new stake in Ark Restaurants during the fourth quarter valued at about $147,000. 31.95% of the stock is 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.