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

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

Ark Restaurants Stock Performance

ARKR opened at $13.24 on Friday. The company’s 50 day simple moving average is $13.04 and its 200 day simple moving average is $13.83. Ark Restaurants has a 1 year low of $10.27 and a 1 year high of $16.64. The stock has a market capitalization of $47.72 million, a PE ratio of -6.55 and a beta of 1.00.

Institutional Inflows and Outflows

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