StockNews.com Begins Coverage on Ark Restaurants (NASDAQ:ARKR)

Analysts at StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Trading Down 2.1 %

Shares of NASDAQ:ARKR opened at $11.37 on Tuesday. Ark Restaurants has a 52 week low of $10.27 and a 52 week high of $16.25. The company’s 50 day moving average is $12.49 and its two-hundred day moving average is $13.54. The company has a market cap of $40.91 million, a PE ratio of -5.63 and a beta of 1.01.

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

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC raised its stake in 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 fund owned 17,544 shares of the restaurant operator’s stock after purchasing an additional 1,225 shares during the period. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.