StockNews.com Begins Coverage on Ark Restaurants (NASDAQ:ARKR)

Research analysts at StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report released on Friday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Separately, TheStreet upgraded Ark Restaurants from a “c” rating to a “b-” rating in a research note on Thursday, August 24th.

Ark Restaurants Stock Up 0.4 %

NASDAQ:ARKR opened at $15.35 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average is $15.42 and its two-hundred day moving average is $16.99. Ark Restaurants has a 52 week low of $14.84 and a 52 week high of $19.96. The stock has a market capitalization of $55.26 million, a price-to-earnings ratio of 10.73 and a beta of 1.09.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings results on Monday, August 14th. The restaurant operator reported $0.88 EPS for the quarter. Ark Restaurants had a return on equity of 8.48% and a net margin of 2.78%. The company had revenue of $51.05 million for the quarter.

Hedge Funds Weigh In On Ark Restaurants

Several hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of Ark Restaurants by 1,694.6% during the first quarter. Tower Research Capital LLC TRC now owns 1,651 shares of the restaurant operator’s stock worth $29,000 after buying an additional 1,559 shares during the last quarter. Avalon Trust Co acquired a new stake in Ark Restaurants in the first quarter valued at about $141,000. Citadel Advisors LLC acquired a new stake in Ark Restaurants in the second quarter valued at about $188,000. EA Series Trust acquired a new stake in Ark Restaurants in the second quarter valued at about $257,000. Finally, Renaissance Technologies LLC lifted its position in Ark Restaurants by 2.4% in the first quarter. Renaissance Technologies LLC now owns 30,211 shares of the restaurant operator’s stock valued at $558,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 17.30% of the company’s stock.

About Ark Restaurants

Ark Restaurants Corp., through its subsidiaries, owns and operates restaurants and bars in the United States. It operates 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.