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

Ark Restaurants Corp. (NASDAQ:ARKR) passed 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 trading hands.

Analysts Set New Price Targets

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, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Ark Restaurants Price Performance

The company’s 50-day moving average is $6.58 and its 200 day moving average is $6.68. The stock has a market capitalization of $22.71 million, a PE ratio of -3.61 and a beta of 0.32. The company has a current ratio of 0.88, a quick ratio of 0.78 and a debt-to-equity ratio of 0.22.

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

Institutional Trading of Ark Restaurants

Several institutional investors have recently bought and sold shares of ARKR. Susquehanna International Group LLP purchased a new position in shares of Ark Restaurants in the third quarter valued at approximately $137,000. Nokomis Capital L.L.C. acquired a new position in Ark Restaurants in the 3rd quarter valued at $148,000. Empowered Funds LLC raised its stake in Ark Restaurants by 8.1% in 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 lifted its holdings in Ark Restaurants by 12.5% in 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 in the last quarter. 31.95% of the stock is owned by institutional investors and hedge funds.

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.