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

Analysts at StockNews.com started 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 Stock Performance

NASDAQ ARKR opened at $14.10 on Friday. The firm’s 50 day moving average price is $11.28 and its two-hundred day moving average price is $12.48. Ark Restaurants has a twelve month low of $9.75 and a twelve month high of $16.25. The stock has a market cap of $50.82 million, a price-to-earnings ratio of -5.18 and a beta of 0.98.

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC boosted its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,949 shares of the restaurant operator’s stock after acquiring an additional 7,017 shares during the quarter. Geode Capital Management LLC owned approximately 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. Institutional investors 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.