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

Stock analysts at StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report released on Friday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

ARKR opened at $13.00 on Friday. Ark Restaurants has a fifty-two week low of $9.75 and a fifty-two week high of $17.76. The company has a market capitalization of $46.85 million, a P/E ratio of -12.04 and a beta of 0.95. The firm’s fifty day moving average price is $12.84 and its two-hundred day moving average price is $12.15.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC lifted its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,709 shares of the restaurant operator’s stock after buying an additional 967 shares during the period. Empowered Funds LLC owned about 0.58% of Ark Restaurants worth $228,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.