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

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

Ark Restaurants Price Performance

Shares of ARKR opened at $11.71 on Wednesday. Ark Restaurants has a fifty-two week low of $10.27 and a fifty-two week high of $16.25. The business has a 50-day moving average of $12.24 and a 200 day moving average of $13.43.

Ark Restaurants (NASDAQ:ARKR) last posted its quarterly earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter. The company 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%.

Institutional Investors Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC lifted its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,544 shares of the restaurant operator’s stock after purchasing an additional 1,225 shares during the quarter. Empowered Funds LLC owned 0.49% of Ark Restaurants worth $246,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 31.95% of the company’s stock.

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.