Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Declines By 34.1%

Ark Restaurants Corp. (NASDAQ:ARKR) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 6,885 shares, a decline of 34.1% from the June 30th total of 10,448 shares. Based on an average daily volume of 2,395 shares, the days-to-cover ratio is currently 2.9 days. Approximately 0.3% of the shares of the company are sold short.

Ark Restaurants Stock Performance

NASDAQ ARKR opened at $5.65 on Friday. The business’s fifty day moving average is $6.03 and its 200 day moving average is $6.52. Ark Restaurants has a twelve month low of $5.58 and a twelve month high of $9.50. The company has a market cap of $20.40 million, a price-to-earnings ratio of -3.25 and a beta of 0.33. The company has a quick ratio of 0.78, a current ratio of 0.88 and a debt-to-equity ratio of 0.22.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings data on Monday, May 11th. The restaurant operator reported ($0.50) earnings per share (EPS) for the quarter. Ark Restaurants had a negative net margin of 3.97% and a negative return on equity of 8.49%. The firm had revenue of $36.58 million during the quarter.

Institutional Investors Weigh In On Ark Restaurants

A number of institutional investors have recently modified their holdings of ARKR. Empowered Funds LLC boosted its position in Ark Restaurants by 8.1% during the first quarter. Empowered Funds LLC now owns 22,383 shares of the restaurant operator’s stock valued at $226,000 after acquiring an additional 1,674 shares during the last quarter. Nokomis Capital L.L.C. acquired a new stake in Ark Restaurants in the third quarter valued at approximately $148,000. Finally, Susquehanna International Group LLP bought a new stake in Ark Restaurants during the 3rd quarter valued at $137,000. 31.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ark Restaurants in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Ark Restaurants currently has a consensus rating of “Sell”.

Ark Restaurants Company Profile

Ark Restaurants Corp., traded on NASDAQ under the ticker ARKR, is a Boca Raton, Florida–based restaurant operator. The company owns and manages a portfolio of casual and upscale dining venues that feature Cuban-inspired menus, full-service bars and live entertainment. Its concepts emphasize traditional Latin flavors paired with modern culinary techniques to appeal to a broad range of diners.

Ark Restaurants serves both on-premise and off-premise customers, offering dine-in seating, take-out, delivery and catering services.