Ark Restaurants Corp. (NASDAQ:ARKR) Sees Large Growth in Short Interest

Ark Restaurants Corp. (NASDAQ:ARKR) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 33,800 shares, an increase of 482.8% from the November 30th total of 5,800 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average daily volume of 9,000 shares, the short-interest ratio is presently 3.8 days.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC increased its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the restaurant operator’s stock after acquiring an additional 15,393 shares during the period. Ark Restaurants comprises approximately 2.3% of CM Management LLC’s portfolio, making the stock its 13th biggest holding. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 31.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Ark Restaurants in a research report on Saturday, December 21st. They issued a “buy” rating on the stock.

Ark Restaurants Stock Performance

Shares of ARKR stock traded down $0.05 on Thursday, reaching $10.95. 3,994 shares of the company’s stock traded hands, compared to its average volume of 5,030. The company has a market capitalization of $39.46 million, a P/E ratio of -4.03 and a beta of 0.98. Ark Restaurants has a 12-month low of $9.75 and a 12-month high of $16.25. The business’s 50 day moving average price is $11.22 and its two-hundred day moving average price is $12.24.

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.