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

Equities researchers at StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued to investors on Tuesday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Trading Down 0.6 %

Ark Restaurants stock opened at $10.10 on Tuesday. The firm has a market capitalization of $36.36 million, a price-to-earnings ratio of -3.74 and a beta of 1.02. The firm’s fifty day moving average price is $11.35 and its two-hundred day moving average price is $12.83. Ark Restaurants has a 1-year low of $9.78 and a 1-year high of $16.25.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC grew its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,949 shares of the restaurant operator’s stock after buying an additional 7,017 shares during the period. Geode Capital Management LLC owned 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 31.95% of the stock is currently owned by institutional investors and hedge funds.

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.