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

Stock analysts at StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a report released on Monday. The brokerage set a “buy” rating on the restaurant operator’s stock.

Ark Restaurants Stock Down 4.0 %

Shares of Ark Restaurants stock opened at $15.56 on Monday. The business has a fifty day simple moving average of $11.34 and a 200-day simple moving average of $12.10. The firm has a market cap of $56.08 million, a price-to-earnings ratio of -5.72 and a beta of 0.94. Ark Restaurants has a fifty-two week low of $9.75 and a fifty-two week high of $17.76.

Hedge Funds Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. Geode Capital Management LLC boosted its holdings in Ark Restaurants Corp. (NASDAQ:ARKR) by 50.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,949 shares of the restaurant operator’s stock after buying 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 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.