Ark Restaurants (NASDAQ:ARKR) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued to investors on Monday. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

Shares of Ark Restaurants stock opened at $11.50 on Monday. The firm has a fifty day moving average price of $12.65 and a two-hundred day moving average price of $13.61. Ark Restaurants has a fifty-two week low of $10.27 and a fifty-two week high of $16.25. The company has a market cap of $41.45 million, a PE ratio of -5.69 and a beta of 1.01.

Ark Restaurants (NASDAQ:ARKR) last released its earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share for the quarter. Ark Restaurants had a negative net margin of 5.31% and a positive return on equity of 0.14%. The business had revenue of $50.40 million during the quarter.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC raised its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,000 shares of the restaurant operator’s stock after buying an additional 15,393 shares during the quarter. Ark Restaurants accounts for approximately 2.3% of CM Management LLC’s holdings, making the stock its 13th biggest holding. CM Management LLC owned approximately 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent quarter. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

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.