Ark Restaurants (NASDAQ:ARKR) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued to investors on Saturday. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Trading Down 0.4 %

ARKR stock opened at $11.15 on Friday. The firm has a market cap of $40.14 million, a P/E ratio of -4.12 and a beta of 1.01. Ark Restaurants has a 12-month low of $10.27 and a 12-month high of $16.25. The stock’s 50 day simple moving average is $12.00 and its 200 day simple moving average is $13.19.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter. Ark Restaurants had a positive return on equity of 0.14% and a negative net margin of 5.31%. The company had revenue of $50.40 million during the quarter.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC boosted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,544 shares of the restaurant operator’s stock after acquiring an additional 1,225 shares during the period. Empowered Funds LLC owned approximately 0.49% of Ark Restaurants worth $246,000 at the end of the most recent quarter. Institutional investors and hedge funds own 31.95% 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 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.