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

StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report published on Thursday. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

ARKR stock opened at $11.94 on Thursday. Ark Restaurants has a 52-week low of $10.27 and a 52-week high of $16.25. The company’s 50 day simple moving average is $12.11 and its 200-day simple moving average is $13.37. The firm has a market capitalization of $42.98 million, a P/E ratio of -4.39 and a beta of 1.01.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC boosted its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,544 shares of the restaurant operator’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned about 0.49% of Ark Restaurants worth $246,000 at the end of the most recent reporting period. 31.95% of the stock is owned by hedge funds and other institutional investors.

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.