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

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

Ark Restaurants Stock Down 1.9 %

Shares of NASDAQ ARKR opened at $13.60 on Wednesday. The firm’s fifty day moving average is $12.15 and its 200 day moving average is $12.15. Ark Restaurants has a 52 week low of $9.75 and a 52 week high of $17.76. The company has a market cap of $48.96 million, a price-to-earnings ratio of -12.59 and a beta of 0.94.

Institutional Trading of Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC raised its holdings in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.58% of Ark Restaurants worth $251,000 at the end of the most recent reporting period. 31.95% of the stock is currently owned by institutional investors and hedge funds.

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.