Arko (NASDAQ:ARKO) Shares Gap Down – Here’s Why

Arko Corp. (NASDAQ:ARKO)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $7.26, but opened at $6.00. Arko shares last traded at $4.79, with a volume of 1,121,603 shares.

Analyst Ratings Changes

Separately, Stifel Nicolaus downgraded shares of Arko from a “buy” rating to a “hold” rating and cut their target price for the company from $8.50 to $7.50 in a research note on Thursday.

Arko Price Performance

The stock’s 50-day moving average is $6.87 and its 200 day moving average is $6.78. The stock has a market capitalization of $536.14 million, a PE ratio of 29.22 and a beta of 0.50. The company has a quick ratio of 1.13, a current ratio of 1.63 and a debt-to-equity ratio of 3.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ARKO. Barclays PLC grew its stake in shares of Arko by 98.2% in the 3rd quarter. Barclays PLC now owns 171,600 shares of the company’s stock valued at $1,203,000 after buying an additional 85,009 shares in the last quarter. JPMorgan Chase & Co. grew its position in Arko by 598.7% in the third quarter. JPMorgan Chase & Co. now owns 239,683 shares of the company’s stock worth $1,683,000 after acquiring an additional 205,377 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Arko during the 4th quarter worth $814,000. Jane Street Group LLC raised its holdings in shares of Arko by 12.2% during the 3rd quarter. Jane Street Group LLC now owns 109,881 shares of the company’s stock valued at $771,000 after purchasing an additional 11,975 shares in the last quarter. Finally, PDT Partners LLC lifted its stake in shares of Arko by 8.7% in the 3rd quarter. PDT Partners LLC now owns 75,685 shares of the company’s stock valued at $531,000 after purchasing an additional 6,031 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Arko Company Profile

Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.