StockNews.com assumed coverage on shares of Ark Restaurants (NASDAQ:ARKR – Free Report) in a research report sent to investors on Saturday morning. The brokerage issued a buy rating on the restaurant operator’s stock.
Ark Restaurants Stock Down 3.6 %
ARKR opened at $10.88 on Friday. Ark Restaurants has a 52 week low of $9.75 and a 52 week high of $16.25. The business’s 50 day moving average is $11.25 and its two-hundred day moving average is $12.28. The firm has a market cap of $39.21 million, a price-to-earnings ratio of -4.00 and a beta of 0.98.
Institutional Investors Weigh In On Ark Restaurants
An institutional investor recently raised its position in Ark Restaurants stock. Geode Capital Management LLC raised its stake in shares of Ark Restaurants Corp. (NASDAQ:ARKR – Free Report) by 50.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,949 shares of the restaurant operator’s stock after acquiring an additional 7,017 shares during the period. Geode Capital Management LLC owned approximately 0.58% of Ark Restaurants worth $251,000 as of its most recent SEC filing. 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.
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