Ark Restaurants Corp. (NASDAQ:ARKR) Sees Significant Decrease in Short Interest

Ark Restaurants Corp. (NASDAQ:ARKR) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 6,885 shares, a decrease of 34.1% from the June 30th total of 10,448 shares. Based on an average trading volume of 2,395 shares, the days-to-cover ratio is currently 2.9 days. Currently, 0.3% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ark Restaurants in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Ark Restaurants Price Performance

Shares of ARKR stock remained flat at $5.65 during trading hours on Friday. The stock had a trading volume of 1,712 shares, compared to its average volume of 1,693. The stock’s 50-day moving average price is $6.05 and its 200-day moving average price is $6.53. The stock has a market cap of $20.37 million, a P/E ratio of -3.25 and a beta of 0.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.78 and a current ratio of 0.88. Ark Restaurants has a 12-month low of $5.58 and a 12-month high of $9.50.

Ark Restaurants (NASDAQ:ARKR) last released its earnings results on Monday, May 11th. The restaurant operator reported ($0.50) earnings per share (EPS) for the quarter. Ark Restaurants had a negative return on equity of 8.49% and a negative net margin of 3.97%.The firm had revenue of $36.58 million during the quarter.

Institutional Trading of Ark Restaurants

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of Ark Restaurants by 8.1% during the 1st quarter. Empowered Funds LLC now owns 22,383 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 1,674 shares during the period. Nokomis Capital L.L.C. bought a new position in Ark Restaurants in the 3rd quarter worth $148,000. Finally, Susquehanna International Group LLP bought a new position in Ark Restaurants in the 3rd quarter worth $137,000. 31.95% of the stock is owned by hedge funds and other institutional investors.

Ark Restaurants Company Profile

Ark Restaurants Corp., traded on NASDAQ under the ticker ARKR, is a Boca Raton, Florida–based restaurant operator. The company owns and manages a portfolio of casual and upscale dining venues that feature Cuban-inspired menus, full-service bars and live entertainment. Its concepts emphasize traditional Latin flavors paired with modern culinary techniques to appeal to a broad range of diners.

Ark Restaurants serves both on-premise and off-premise customers, offering dine-in seating, take-out, delivery and catering services.