Ark Restaurants (NASDAQ:ARKR) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Ark Restaurants Corp. (NASDAQ:ARKR)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.88 and traded as low as $6.75. Ark Restaurants shares last traded at $6.90, with a volume of 1,624 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ark Restaurants in a report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Ark Restaurants Stock Down 0.7%

The company has a current ratio of 0.76, a quick ratio of 0.67 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $6.83 and its 200-day moving average price is $6.88. The company has a market cap of $24.91 million, a price-to-earnings ratio of -1.81 and a beta of 0.35.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings data on Monday, February 9th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter. The business had revenue of $40.75 million during the quarter. Ark Restaurants had a negative return on equity of 19.82% and a negative net margin of 8.50%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC grew its holdings in 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 during the period. Susquehanna International Group LLP bought a new stake in Ark Restaurants in the third quarter valued at approximately $137,000. Nokomis Capital L.L.C. acquired a new stake in shares of Ark Restaurants in the third quarter valued at approximately $148,000. Finally, CM Management LLC lifted 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 valued at $1,602,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds 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.