Ark Restaurants (NASDAQ:ARKR) Receives New Coverage from Analysts at StockNews.com

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

Ark Restaurants Price Performance

ARKR opened at $11.80 on Friday. The stock has a market cap of $42.53 million, a P/E ratio of -5.84 and a beta of 1.01. The stock’s 50 day simple moving average is $12.03 and its 200 day simple moving average is $13.30. Ark Restaurants has a 1-year low of $10.27 and a 1-year high of $16.25.

Ark Restaurants (NASDAQ:ARKR) last released its quarterly earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share for the quarter. The business had revenue of $50.40 million for the quarter. Ark Restaurants had a positive return on equity of 0.14% and a negative net margin of 5.31%.

Institutional Investors Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC boosted its stake in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the quarter. Ark Restaurants makes up about 2.3% of CM Management LLC’s holdings, making the stock its 13th biggest position. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 as of its most recent filing with the SEC. 31.95% of the stock is owned by institutional investors.

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.