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

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

Ark Restaurants Price Performance

NASDAQ:ARKR opened at $13.52 on Thursday. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $17.76. The firm has a 50 day simple moving average of $12.54 and a 200-day simple moving average of $12.17.

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC increased its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,709 shares of the restaurant operator’s stock after buying an additional 967 shares during the quarter. Empowered Funds LLC owned about 0.58% of Ark Restaurants worth $228,000 as of its most recent filing with the Securities and Exchange Commission. 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.