Ark Restaurants (NASDAQ:ARKR) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of Ark Restaurants Corp. (NASDAQ:ARKR) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.58 and traded as low as $6.15. Ark Restaurants shares last traded at $6.57, with a volume of 100,395 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ark Restaurants in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Ark Restaurants Stock Performance

The stock has a market capitalization of $23.72 million, a P/E ratio of -2.07 and a beta of 0.46. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $6.99 and a two-hundred day moving average price of $7.58.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings data on Monday, December 15th. The restaurant operator reported ($0.53) EPS for the quarter. Ark Restaurants had a negative net margin of 6.92% and a negative return on equity of 18.53%. The firm had revenue of $37.32 million for the quarter. During the same period in the prior year, the company posted ($1.24) earnings per share.

Institutional Investors Weigh In On Ark Restaurants

A number of institutional investors and hedge funds have recently made changes to their positions in ARKR. Susquehanna International Group LLP purchased a new position in Ark Restaurants during the third quarter worth about $137,000. Nokomis Capital L.L.C. bought a new stake in shares of Ark Restaurants during the 3rd quarter valued at about $148,000. Empowered Funds LLC grew its holdings in shares of Ark Restaurants by 8.1% during the first quarter. Empowered Funds LLC now owns 22,383 shares of the restaurant operator’s stock worth $226,000 after purchasing an additional 1,674 shares in the last quarter. Finally, CM Management LLC increased its position in shares of Ark Restaurants by 12.5% in the third quarter. CM Management LLC now owns 225,000 shares of the restaurant operator’s stock worth $1,602,000 after purchasing an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 31.95% of the company’s stock.

About Ark Restaurants

Ark Restaurants Corp., traded on NASDAQ under the ticker ARKR, is a Boca Raton, Florida–based restaurant operator. The company owns and manages a portfolio of casual and upscale dining venues that feature Cuban-inspired menus, full-service bars and live entertainment. Its concepts emphasize traditional Latin flavors paired with modern culinary techniques to appeal to a broad range of diners.

Ark Restaurants serves both on-premise and off-premise customers, offering dine-in seating, take-out, delivery and catering services.