Ark Restaurants (NASDAQ:ARKR) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report released on Wednesday morning. The firm issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Trading Down 3.2 %

Shares of NASDAQ ARKR opened at $13.75 on Wednesday. The business’s 50 day moving average is $12.35 and its 200-day moving average is $12.18. The firm has a market cap of $49.50 million, a P/E ratio of -12.73 and a beta of 0.94. Ark Restaurants has a 1-year low of $9.75 and a 1-year high of $17.76.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its position in Ark Restaurants stock. Geode Capital Management LLC grew its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,949 shares of the restaurant operator’s stock after purchasing an additional 7,017 shares during the period. Geode Capital Management LLC owned about 0.58% of Ark Restaurants worth $251,000 at the end of the most recent quarter. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

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.