Ark Restaurants (NASDAQ:ARKR) Now Covered by Analysts at StockNews.com

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

Ark Restaurants Trading Up 1.7 %

ARKR stock opened at $11.29 on Friday. The stock has a 50-day moving average price of $11.27 and a two-hundred day moving average price of $12.32. The company has a market cap of $40.69 million, a PE ratio of -4.15 and a beta of 0.98. Ark Restaurants has a 12-month low of $9.75 and a 12-month high of $16.25.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC raised its position in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,949 shares of the restaurant operator’s stock after acquiring 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 quarter. Institutional investors and hedge funds 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.