Ark Restaurants (NASDAQ:ARKR) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Ark Restaurants Corp. (NASDAQ:ARKR) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.15 and traded as high as $13.36. Ark Restaurants shares last traded at $13.00, with a volume of 2,971 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Ark Restaurants in a research report on Friday. They set a “buy” rating on the stock.

Ark Restaurants Trading Up 1.3 %

The business’s 50-day moving average price is $12.84 and its 200-day moving average price is $12.15. The stock has a market cap of $46.85 million, a PE ratio of -12.04 and a beta of 0.95.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Empowered Funds LLC boosted its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 approximately 0.58% of Ark Restaurants worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 31.95% of the company’s stock.

Ark Restaurants Company Profile

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.