Ark Restaurants (NASDAQ:ARKR) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Ark Restaurants Corp. (NASDAQ:ARKR) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.80 and traded as low as $6.31. Ark Restaurants shares last traded at $6.31, with a volume of 9,671 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Ark Restaurants in a research report on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Ark Restaurants Stock Down 4.4%

The company has a quick ratio of 0.78, a current ratio of 0.88 and a debt-to-equity ratio of 0.22. The company has a market cap of $22.75 million, a P/E ratio of -3.63 and a beta of 0.34. The company has a fifty day moving average of $6.79 and a 200 day moving average of $6.80.

Ark Restaurants (NASDAQ:ARKR) last posted its earnings results on Monday, May 11th. The restaurant operator reported ($0.50) earnings per share for the quarter. The firm had revenue of $36.58 million during the quarter. Ark Restaurants had a negative net margin of 3.97% and a negative return on equity of 8.49%.

Hedge Funds Weigh In On Ark Restaurants

Several institutional investors have recently made changes to their positions in ARKR. Susquehanna International Group LLP purchased a new stake in Ark Restaurants during the third quarter valued at approximately $137,000. Nokomis Capital L.L.C. purchased a new position in shares of Ark Restaurants during the 3rd quarter worth $148,000. Empowered Funds LLC boosted its stake in shares of Ark Restaurants by 8.1% during the 1st quarter. Empowered Funds LLC now owns 22,383 shares of the restaurant operator’s stock worth $226,000 after acquiring an additional 1,674 shares during the last quarter. Finally, CM Management LLC grew its position in shares of Ark Restaurants by 12.5% during the 3rd quarter. CM Management LLC now owns 225,000 shares of the restaurant operator’s stock valued at $1,602,000 after acquiring an additional 25,000 shares during the period. Institutional investors own 31.95% of the company’s stock.

About Ark Restaurants

Ark Restaurants Corp., traded on NASDAQ under the ticker ARKR, is a Boca Raton, Florida–based restaurant operator. The company owns and manages a portfolio of casual and upscale dining venues that feature Cuban-inspired menus, full-service bars and live entertainment. Its concepts emphasize traditional Latin flavors paired with modern culinary techniques to appeal to a broad range of diners.

Ark Restaurants serves both on-premise and off-premise customers, offering dine-in seating, take-out, delivery and catering services.