Ark Restaurants (NASDAQ:ARKR) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Ark Restaurants Corp. (NASDAQ:ARKR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.18 and traded as high as $12.18. Ark Restaurants shares last traded at $11.84, with a volume of 5,318 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Ark Restaurants in a research report on Thursday. They issued a “buy” rating for the company.

Ark Restaurants Stock Down 1.6%

The business’s 50-day simple moving average is $9.89 and its two-hundred day simple moving average is $11.18. The firm has a market cap of $42.68 million, a price-to-earnings ratio of -20.40 and a beta of 0.64.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings data 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 firm had revenue of $39.73 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC raised 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 during the last quarter. Aristides Capital LLC raised its position in shares of Ark Restaurants by 9.2% during the 4th quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after purchasing an additional 1,733 shares during the last quarter. Finally, Northern Trust Corp acquired a new position in shares of Ark Restaurants during the 4th quarter worth about $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.