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

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

Ark Restaurants Price Performance

Shares of ARKR stock opened at $13.90 on Tuesday. The stock’s 50-day moving average is $11.86 and its 200 day moving average is $12.14. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $17.76. The company has a market cap of $50.10 million, a P/E ratio of -5.11 and a beta of 0.94.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC grew its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the 3rd 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 acquiring an additional 7,017 shares during the period. Geode Capital Management LLC owned about 0.58% of Ark Restaurants worth $251,000 at the end of the most recent quarter. Institutional investors own 31.95% of the company’s stock.

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.