Ark Restaurants (NASDAQ:ARKR) Now Covered by StockNews.com

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

Ark Restaurants Stock Down 0.9 %

ARKR opened at $10.16 on Tuesday. The company has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $12.85. Ark Restaurants has a twelve month low of $9.80 and a twelve month high of $16.25. The stock has a market capitalization of $36.58 million, a price-to-earnings ratio of -3.77 and a beta of 1.02.

Institutional Investors Weigh In On Ark Restaurants

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC lifted its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,949 shares of the restaurant operator’s stock after buying an additional 7,017 shares during the period. Geode Capital Management LLC owned about 0.58% of Ark Restaurants worth $251,000 as of its most recent SEC filing. 31.95% of the stock is currently owned by institutional investors and hedge funds.

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.