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

by · The Cerbat Gem

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR – Free Report) in a report issued on Wednesday morning. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Price Performance

NASDAQ ARKR opened at $11.71 on Wednesday. The company has a market capitalization of $42.18 million, a price-to-earnings ratio of -5.79 and a beta of 1.01. Ark Restaurants has a 12 month low of $10.27 and a 12 month high of $16.25. The company’s fifty day moving average price is $12.24 and its two-hundred day moving average price is $13.43.

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

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC lifted its holdings in Ark Restaurants Corp. (NASDAQ:ARKR – Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 17,544 shares of the restaurant operator’s stock after buying an additional 1,225 shares during the quarter. Empowered Funds LLC owned approximately 0.49% of Ark Restaurants worth $246,000 as of its most recent filing with the SEC. 31.95% of the stock is owned by institutional investors and hedge funds.

Ark Restaurants Company Profile

(Get Free Report)

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.

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