Ark Restaurants (NASDAQ:ARKR) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Ark Restaurants Corp. (NASDAQ:ARKR)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.15 and traded as high as $14.43. Ark Restaurants shares last traded at $13.64, with a volume of 4,384 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Ark Restaurants in a research report on Wednesday. They set a “buy” rating on the stock.

Ark Restaurants Stock Performance

The firm’s fifty day simple moving average is $12.08 and its 200-day simple moving average is $12.15. The stock has a market cap of $49.09 million, a P/E ratio of -12.63 and a beta of 0.94.

Institutional Trading of Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC lifted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,949 shares of the restaurant operator’s stock after purchasing an additional 7,017 shares during the quarter. Geode Capital Management LLC owned 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 31.95% of the stock is owned by institutional investors and hedge funds.

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.