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

Research analysts at StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report issued on Tuesday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Performance

NASDAQ:ARKR opened at $11.37 on Tuesday. The stock has a market capitalization of $40.91 million, a P/E ratio of -5.63 and a beta of 1.01. Ark Restaurants has a fifty-two week low of $10.27 and a fifty-two week high of $16.25. The company has a 50 day moving average price of $12.49 and a 200 day moving average price of $13.54.

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

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC increased its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,544 shares of the restaurant operator’s stock after purchasing an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 at the end of the most recent quarter. 31.95% of the stock is owned by institutional investors.

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.