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

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research note issued to investors on Saturday. The brokerage issued a buy rating on the restaurant operator’s stock.

Ark Restaurants Trading Down 4.4 %

Shares of Ark Restaurants stock opened at $11.37 on Friday. Ark Restaurants has a 12-month low of $10.27 and a 12-month high of $16.25. The firm has a market capitalization of $40.93 million, a price-to-earnings ratio of -4.18 and a beta of 1.01. The firm’s 50 day simple moving average is $12.02 and its two-hundred day simple moving average is $13.21.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings results on Monday, August 12th. The restaurant operator reported $0.72 earnings per share (EPS) for the quarter. Ark Restaurants had a negative net margin of 5.31% and a positive return on equity of 0.14%. The business had revenue of $50.40 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. Empowered Funds LLC lifted its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,544 shares of the restaurant operator’s stock after acquiring 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. 31.95% of the stock is owned by 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.