StockNews.com Initiates Coverage on Ark Restaurants (NASDAQ:ARKR)

StockNews.com initiated coverage on shares of Ark Restaurants (NASDAQ:ARKR) in a research report issued on Wednesday. The firm set a “buy” rating on the restaurant operator’s stock.

Separately, TheStreet upgraded Ark Restaurants from a “d+” rating to a “c” rating in a research note on Thursday, March 14th.

Ark Restaurants Stock Performance

NASDAQ ARKR opened at $14.00 on Wednesday. The company has a fifty day simple moving average of $14.01 and a 200 day simple moving average of $14.64. Ark Restaurants has a 12-month low of $10.27 and a 12-month high of $18.75. The company has a current ratio of 0.79, a quick ratio of 0.68 and a debt-to-equity ratio of 0.10. The company has a market cap of $50.40 million, a P/E ratio of -8.00 and a beta of 0.99.

Ark Restaurants (NASDAQ:ARKR) last posted its quarterly earnings results on Monday, February 12th. The restaurant operator reported $0.38 earnings per share (EPS) for the quarter. Ark Restaurants had a negative net margin of 3.40% and a positive return on equity of 2.77%. The business had revenue of $47.49 million during the quarter.

Institutional Investors Weigh In On Ark Restaurants

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its holdings in Ark Restaurants by 1,694.6% during the first quarter. Tower Research Capital LLC TRC now owns 1,651 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 1,559 shares during the period. Citadel Advisors LLC purchased a new stake in Ark Restaurants in the 2nd quarter worth about $188,000. Northern Trust Corp bought a new stake in Ark Restaurants in the 4th quarter valued at about $144,000. Renaissance Technologies LLC lifted its holdings in Ark Restaurants by 2.4% during the first quarter. Renaissance Technologies LLC now owns 30,211 shares of the restaurant operator’s stock valued at $558,000 after purchasing an additional 700 shares during the last quarter. Finally, First Manhattan Co. increased its stake in shares of Ark Restaurants by 7.8% in the fourth quarter. First Manhattan Co. now owns 39,957 shares of the restaurant operator’s stock worth $662,000 after purchasing an additional 2,907 shares in the last quarter. 31.95% of the stock is currently owned by institutional investors.

Ark Restaurants Company Profile

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.