Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Decreases By 29.3%

Ark Restaurants Corp. (NASDAQ:ARKR) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 23,200 shares, a decline of 29.3% from the January 31st total of 32,800 shares. Based on an average daily volume of 9,000 shares, the short-interest ratio is currently 2.6 days. Currently, 1.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Ark Restaurants

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Ark Restaurants by 50.4% in the third quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock worth $251,000 after buying an additional 7,017 shares during the period. Empowered Funds LLC lifted its position in shares of Ark Restaurants by 4.9% in the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock valued at $228,000 after acquiring an additional 967 shares in the last quarter. Aristides Capital LLC raised its position in Ark Restaurants by 9.2% during the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock valued at $227,000 after buying an additional 1,733 shares during the period. Finally, Northern Trust Corp acquired a new position in Ark Restaurants during the fourth quarter valued at $147,000. Hedge funds and other institutional investors own 31.95% of the company’s stock.

Ark Restaurants Price Performance

Shares of ARKR traded down $0.26 during midday trading on Tuesday, reaching $10.56. The stock had a trading volume of 1,536 shares, compared to its average volume of 5,561. The company has a market capitalization of $38.06 million, a P/E ratio of -18.21 and a beta of 0.95. The firm’s 50 day moving average price is $12.62 and its 200-day moving average price is $11.98. Ark Restaurants has a 52 week low of $9.75 and a 52 week high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last posted its quarterly earnings results on Monday, February 10th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter. Ark Restaurants had a positive return on equity of 4.22% and a negative net margin of 1.16%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Ark Restaurants in a research note on Monday. They issued a “buy” rating for the company.

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.