Ark Restaurants (NASDAQ:ARKR) Stock Crosses Below 200 Day Moving Average – What’s Next?

Ark Restaurants Corp. (NASDAQ:ARKR) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.77 and traded as low as $6.14. Ark Restaurants shares last traded at $6.25, with a volume of 17,062 shares changing hands.

Analyst Ratings Changes

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

Ark Restaurants Stock Performance

The firm has a market capitalization of $22.56 million, a price-to-earnings ratio of -3.59 and a beta of 0.32. 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 stock has a 50-day moving average price of $6.74 and a 200 day moving average price of $6.77.

Ark Restaurants (NASDAQ:ARKR) last announced its quarterly earnings data on Monday, May 11th. The restaurant operator reported ($0.50) EPS for the quarter. The company had revenue of $36.58 million for the quarter. Ark Restaurants had a negative return on equity of 8.49% and a negative net margin of 3.97%.

Hedge Funds Weigh In On Ark Restaurants

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARKR. Nokomis Capital L.L.C. purchased a new stake in Ark Restaurants in the third quarter valued at approximately $148,000. Empowered Funds LLC raised its stake in shares of Ark Restaurants by 8.1% during the first quarter. Empowered Funds LLC now owns 22,383 shares of the restaurant operator’s stock worth $226,000 after purchasing an additional 1,674 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of Ark Restaurants during the third quarter worth approximately $137,000. Finally, CM Management LLC raised its position in Ark Restaurants by 12.5% in the third quarter. CM Management LLC now owns 225,000 shares of the restaurant operator’s stock worth $1,602,000 after acquiring an additional 25,000 shares in the last quarter. 31.95% of the stock is owned by institutional investors and hedge funds.

Ark Restaurants Company Profile

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.