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

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

Ark Restaurants Stock Up 0.2 %

Shares of Ark Restaurants stock opened at $10.38 on Monday. The stock’s fifty day moving average is $11.55 and its two-hundred day moving average is $12.97. Ark Restaurants has a 52 week low of $10.06 and a 52 week high of $16.25. The company has a market capitalization of $37.37 million, a PE ratio of -3.81 and a beta of 1.02.

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

Institutional Investors Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC raised its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,544 shares of the restaurant operator’s stock after buying an additional 1,225 shares during the quarter. Empowered Funds LLC owned about 0.49% of Ark Restaurants worth $246,000 at the end of the most recent reporting period. 31.95% of the stock is currently owned by institutional investors.

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.