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

StockNews.com initiated 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

NASDAQ ARKR opened at $9.82 on Wednesday. The stock has a market capitalization of $35.39 million, a price-to-earnings ratio of -3.61 and a beta of 1.02. Ark Restaurants has a 1-year low of $9.77 and a 1-year high of $16.25. The business’s fifty day moving average price is $11.06 and its 200-day moving average price is $12.62.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC raised its holdings 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 Securities & Exchange Commission. The fund owned 20,949 shares of the restaurant operator’s stock after purchasing an additional 7,017 shares during the quarter. Geode Capital Management LLC owned 0.58% of Ark Restaurants worth $251,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 31.95% of the company’s stock.

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.