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

Ark Restaurants Corp. (NASDAQ:ARKR) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.73 and traded as low as $6.03. Ark Restaurants shares last traded at $6.20, with a volume of 1,851 shares.

Analysts Set New Price Targets

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

Ark Restaurants Stock Performance

The stock has a market cap of $22.38 million, a PE ratio of -3.56 and a beta of 0.32. The company has a fifty day moving average price of $6.66 and a 200 day moving average price of $6.73. The company has a quick ratio of 0.78, a current ratio of 0.88 and a debt-to-equity ratio of 0.22.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new position in Ark Restaurants during the 3rd quarter valued at approximately $137,000. Nokomis Capital L.L.C. bought a new position in Ark Restaurants during the 3rd quarter valued at approximately $148,000. Empowered Funds LLC raised its position in Ark Restaurants by 8.1% during the 1st quarter. Empowered Funds LLC now owns 22,383 shares of the restaurant operator’s stock valued at $226,000 after purchasing an additional 1,674 shares during the last quarter. Finally, CM Management LLC raised its position in 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 purchasing an additional 25,000 shares during the last quarter. 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.