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

Ark Restaurants Corp. (NASDAQ:ARKR)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.69 and traded as low as $6.29. Ark Restaurants shares last traded at $6.29, with a volume of 905 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated 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, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Ark Restaurants Stock Up 1.5%

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 firm has a market cap of $22.68 million, a P/E ratio of -3.61 and a beta of 0.32. The stock’s 50-day simple moving average is $6.59 and its 200 day simple moving average is $6.69.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings results on Monday, May 11th. The restaurant operator reported ($0.50) earnings per share for the quarter. The business 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%.

Institutional Investors Weigh In On Ark Restaurants

Institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in shares of Ark Restaurants in the third quarter worth approximately $137,000. Nokomis Capital L.L.C. purchased a new position in shares of Ark Restaurants during the third quarter valued at approximately $148,000. Empowered Funds LLC boosted its position 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 valued at $226,000 after buying an additional 1,674 shares during the last quarter. Finally, CM Management LLC grew its holdings in Ark Restaurants by 12.5% during the third quarter. CM Management LLC now owns 225,000 shares of the restaurant operator’s stock worth $1,602,000 after buying an additional 25,000 shares in the last quarter. Institutional investors and hedge funds 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.