Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Drops By 50.0%

Ark Restaurants Corp. (NASDAQ:ARKR) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 5,000 shares, a drop of 50.0% from the August 31st total of 10,000 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 4,200 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC boosted its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,544 shares of the restaurant operator’s stock after acquiring an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 as of its most recent SEC filing. Institutional investors own 31.95% of the company’s stock.

Ark Restaurants Price Performance

Shares of NASDAQ ARKR traded down $0.03 during mid-day trading on Friday, hitting $11.68. 8,637 shares of the company’s stock traded hands, compared to its average volume of 6,820. The company has a market capitalization of $42.06 million, a P/E ratio of -5.78 and a beta of 1.01. Ark Restaurants has a 1 year low of $10.27 and a 1 year high of $16.25. The company’s 50-day moving average is $12.42 and its two-hundred day moving average is $13.51.

Ark Restaurants (NASDAQ:ARKR) last announced its earnings results on Monday, August 12th. The restaurant operator reported $0.72 EPS for the quarter. Ark Restaurants had a positive return on equity of 0.14% and a negative net margin of 5.31%. The firm had revenue of $50.40 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Ark Restaurants in a research report on Tuesday. They issued a “buy” rating on the 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.