Equities research analysts at StockNews.com began coverage on shares of Ark Restaurants (NASDAQ:ARKR - Get Free Report) in a research report issued to clients and investors on Friday. The brokerage set a "buy" rating on the restaurant operator's stock.
Ark Restaurants Price Performance
Shares of Ark Restaurants stock traded down $0.62 during trading hours on Friday, reaching $13.48. The company had a trading volume of 2,008 shares, compared to its average volume of 5,079. The firm has a market cap of $48.53 million, a PE ratio of -4.96 and a beta of 0.98. Ark Restaurants has a one year low of $9.75 and a one year high of $16.25. The business has a fifty day simple moving average of $11.28 and a 200 day simple moving average of $12.48.
Institutional Investors Weigh In On Ark Restaurants
An institutional investor recently raised its position in Ark Restaurants stock. CM Management LLC boosted its position in Ark Restaurants Corp. (NASDAQ:ARKR - Free Report) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the restaurant operator's stock after purchasing an additional 15,393 shares during the quarter. Ark Restaurants comprises 2.3% of CM Management LLC's investment portfolio, making the stock its 13th biggest position. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 31.95% of the company's stock.
About Ark Restaurants
(
Get Free Report)
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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