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

Equities researchers at StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

Shares of ARKR opened at $12.00 on Tuesday. Ark Restaurants has a 52 week low of $8.25 and a 52 week high of $17.76. The stock has a 50 day moving average price of $9.65 and a two-hundred day moving average price of $11.16. The firm has a market capitalization of $43.25 million, a P/E ratio of -20.69 and a beta of 0.64.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings results on Monday, February 10th. The restaurant operator reported $0.18 EPS for the quarter. Ark Restaurants had a positive return on equity of 4.22% and a negative net margin of 1.16%.

Hedge Funds Weigh In On Ark Restaurants

Hedge funds have recently modified their holdings of the company. Northern Trust Corp purchased a new stake in shares of Ark Restaurants during the fourth quarter valued at approximately $147,000. Aristides Capital LLC increased its position in shares of Ark Restaurants by 9.2% during the 4th quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after purchasing an additional 1,733 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Ark Restaurants by 4.9% during the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after purchasing an additional 967 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Ark Restaurants by 50.4% in the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after buying an additional 7,017 shares during the last quarter. Institutional investors own 31.95% of the company’s stock.

Ark Restaurants Company Profile

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.