Ark Restaurants (NASDAQ:ARKR) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note released on Thursday morning. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

ARKR opened at $13.31 on Thursday. The company has a 50-day moving average of $12.68 and a 200-day moving average of $12.17. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $17.76. The company has a market capitalization of $47.92 million, a P/E ratio of -12.32 and a beta of 0.94.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC lifted its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,709 shares of the restaurant operator’s stock after acquiring an additional 967 shares during the period. Empowered Funds LLC owned approximately 0.58% of Ark Restaurants worth $228,000 at the end of the most recent reporting period. 31.95% of the stock is owned by hedge funds and other institutional investors.

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.