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

Ark Restaurants Corp. (NASDAQ:ARKR) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 13,300 shares, a growth of 62.2% from the September 30th total of 8,200 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 5,400 shares, the short-interest ratio is presently 2.5 days.

Ark Restaurants Price Performance

NASDAQ:ARKR traded down $0.52 during trading hours on Monday, hitting $11.37. 7,500 shares of the stock were exchanged, compared to its average volume of 4,785. The firm’s fifty day moving average price is $12.02 and its 200 day moving average price is $13.21. Ark Restaurants has a 52-week low of $10.27 and a 52-week high of $16.25.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC raised its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the quarter. Ark Restaurants comprises about 2.3% of CM Management LLC’s portfolio, making the stock its 13th biggest holding. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 31.95% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Ark Restaurants in a research report on Saturday. They set 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.