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

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

Ark Restaurants Trading Down 2.0 %

Shares of ARKR stock opened at $10.14 on Wednesday. Ark Restaurants has a 1 year low of $9.75 and a 1 year high of $17.76. The firm’s 50 day moving average is $11.98 and its 200-day moving average is $11.77. The firm has a market capitalization of $36.54 million, a price-to-earnings ratio of -17.48 and a beta of 0.99.

Ark Restaurants (NASDAQ:ARKR) last announced its earnings results on Monday, February 10th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter. Ark Restaurants had a negative net margin of 1.16% and a positive return on equity of 4.22%.

Institutional Investors Weigh In On Ark Restaurants

Institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp bought a new stake in shares of Ark Restaurants during the fourth quarter worth approximately $147,000. Aristides Capital LLC raised its stake in shares of Ark Restaurants by 9.2% during the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after buying an additional 1,733 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Ark Restaurants by 4.9% during the fourth quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after buying an additional 967 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Ark Restaurants by 50.4% during the third quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after buying an additional 7,017 shares during the last quarter. 31.95% of the stock is owned by 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.