Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Declines By 35.9%

Ark Restaurants Corp. (NASDAQ:ARKR) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 5,594 shares, a drop of 35.9% from the August 15th total of 8,730 shares. Based on an average daily trading volume, of 9,354 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently bought a new stake in Ark Restaurants stock. Empowered Funds LLC bought a new position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,300 shares of the restaurant operator’s stock, valued at approximately $137,000. Empowered Funds LLC owned approximately 0.65% of Ark Restaurants as of its most recent SEC filing. Hedge funds and other institutional investors own 31.95% of the company’s stock.

Ark Restaurants Stock Performance

ARKR opened at $4.67 on Friday. The business’s 50-day simple moving average is $5.48 and its 200 day simple moving average is $6.18. Ark Restaurants has a 52-week low of $4.50 and a 52-week high of $9.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.68 and a current ratio of 0.78. The firm has a market capitalization of $16.86 million, a PE ratio of -5.31 and a beta of 0.35.

Ark Restaurants (NASDAQ:ARKR) last posted its quarterly earnings results on Monday, August 10th. The restaurant operator reported ($0.10) earnings per share for the quarter. Ark Restaurants had a negative net margin of 2.04% and a negative return on equity of 10.61%. The company had revenue of $40.88 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ark Restaurants in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

About Ark Restaurants

Ark Restaurants Corp. is a restaurant company that owns, operates and develops a portfolio of full-service dining establishments in the United States. Its restaurants span a range of concepts, including casual dining, upscale dining, steakhouses, seafood restaurants, bars and entertainment-oriented venues.

The company’s operations are concentrated in major hospitality and tourism markets, including New York City, Las Vegas and Florida. Its properties generally serve lunch, dinner and beverages, with some locations also offering private dining, catering, banquets and other special-event services.