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

StockNews.com started coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report published on Friday morning. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 1.7 %

ARKR opened at $12.78 on Friday. The stock has a market cap of $46.01 million, a P/E ratio of -11.83 and a beta of 0.95. Ark Restaurants has a 12 month low of $9.75 and a 12 month high of $17.76. The company has a fifty day simple moving average of $12.90 and a 200 day simple moving average of $12.16.

Institutional Investors Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC increased its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,949 shares of the restaurant operator’s stock after purchasing an additional 7,017 shares during the quarter. Geode Capital Management LLC owned 0.58% of Ark Restaurants worth $251,000 as of its most recent filing with the SEC. 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.