Ark Restaurants (NASDAQ:ARKR) Shares Pass Below 200 Day Moving Average – Here’s Why

Ark Restaurants Corp. (NASDAQ:ARKR) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.93 and traded as low as $6.75. Ark Restaurants shares last traded at $6.75, with a volume of 953 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ark Restaurants in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Ark Restaurants Stock Down 2.2%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.76 and a quick ratio of 0.67. The stock has a market cap of $24.37 million, a price-to-earnings ratio of -1.77 and a beta of 0.37. The firm has a 50 day simple moving average of $6.80 and a two-hundred day simple moving average of $6.93.

Ark Restaurants (NASDAQ:ARKR) last posted its earnings results on Monday, February 9th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter. The company 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 Investors Weigh In On Ark Restaurants

Hedge funds have recently bought and sold shares of the company. CM Management LLC grew its holdings in shares of Ark Restaurants by 12.5% in the 3rd 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 period. Nokomis Capital L.L.C. acquired a new stake in Ark Restaurants during the 3rd quarter worth $148,000. Susquehanna International Group LLP acquired a new stake in Ark Restaurants during the 3rd quarter worth $137,000. Finally, Empowered Funds LLC lifted 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 acquiring an additional 1,674 shares in the last quarter. 31.95% of the stock is currently owned by institutional investors and hedge funds.

Ark Restaurants Company Profile

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.