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

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report issued on Monday morning. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Up 10.0 %

Shares of NASDAQ:ARKR opened at $16.21 on Monday. The firm has a market cap of $58.42 million, a P/E ratio of -5.96 and a beta of 0.94. Ark Restaurants has a 12-month low of $9.75 and a 12-month high of $16.56. The business has a fifty day simple moving average of $11.24 and a 200 day simple moving average of $12.08.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC lifted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,949 shares of the restaurant operator’s stock after buying an additional 7,017 shares during the quarter. Geode Capital Management LLC owned about 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.

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.