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

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

Ark Restaurants Stock Up 5.6%

Shares of NASDAQ ARKR opened at $11.93 on Wednesday. The firm’s 50-day simple moving average is $9.78 and its 200 day simple moving average is $11.15. The company has a market cap of $42.95 million, a price-to-earnings ratio of -20.57 and a beta of 0.64. Ark Restaurants has a 12-month low of $8.25 and a 12-month high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings results on Monday, May 12th. The restaurant operator reported ($1.62) earnings per share (EPS) for the quarter. The company had revenue of $39.73 million for the quarter. Ark Restaurants had a positive return on equity of 4.22% and a negative net margin of 1.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in Ark Restaurants by 4.9% during the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock worth $228,000 after buying an additional 967 shares in the last quarter. Aristides Capital LLC lifted its position in Ark Restaurants by 9.2% during the 4th 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 in the last quarter. Finally, Northern Trust Corp acquired a new position in Ark Restaurants during the 4th quarter worth about $147,000. 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.