StockNews.com Initiates Coverage on Ark Restaurants (NASDAQ:ARKR)

Equities research analysts at StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report issued to clients and investors on Sunday. The firm set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 2.6 %

Ark Restaurants stock opened at $11.19 on Friday. The firm has a 50 day moving average price of $11.19 and a 200-day moving average price of $12.14. Ark Restaurants has a twelve month low of $9.75 and a twelve month high of $16.25. The company has a market capitalization of $40.33 million, a P/E ratio of -4.11 and a beta of 0.98.

Hedge Funds Weigh In On Ark Restaurants

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

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.