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

Ark Restaurants Corp. (NASDAQ:ARKR)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $6.20 and traded as low as $4.50. Ark Restaurants shares last traded at $4.50, with a volume of 17,576 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ark Restaurants in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Ark Restaurants Stock Performance

The business’s fifty day moving average is $5.48 and its 200-day moving average is $6.18. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.22. The company has a market cap of $16.86 million, a PE ratio of -5.31 and a beta of 0.35.

Ark Restaurants (NASDAQ:ARKR) last issued its quarterly earnings results on Monday, August 10th. The restaurant operator reported ($0.10) EPS for the quarter. Ark Restaurants had a negative return on equity of 10.61% and a negative net margin of 2.04%.The company had revenue of $40.88 million during the quarter.

Hedge Funds Weigh In On Ark Restaurants

An institutional investor recently bought a new stake in Ark Restaurants stock. Empowered Funds LLC purchased a new position in Ark Restaurants Corp. (NASDAQ:ARKR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,300 shares of the restaurant operator’s stock, valued at approximately $137,000. Empowered Funds LLC owned approximately 0.65% of Ark Restaurants as of its most recent SEC filing. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

Ark Restaurants Company Profile

Ark Restaurants Corp. is a restaurant company that owns, operates and develops a portfolio of full-service dining establishments in the United States. Its restaurants span a range of concepts, including casual dining, upscale dining, steakhouses, seafood restaurants, bars and entertainment-oriented venues.

The company’s operations are concentrated in major hospitality and tourism markets, including New York City, Las Vegas and Florida. Its properties generally serve lunch, dinner and beverages, with some locations also offering private dining, catering, banquets and other special-event services.