Ark Restaurants Corp. (NASDAQ:ARKR) Sees Significant Increase in Short Interest

Ark Restaurants Corp. (NASDAQ:ARKR) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 12,821 shares, a growth of 72.1% from the April 15th total of 7,448 shares. Based on an average daily volume of 3,226 shares, the days-to-cover ratio is currently 4.0 days. Approximately 0.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Ark Restaurants Stock Performance

Shares of NASDAQ ARKR remained flat at $6.59 during midday trading on Monday. The stock had a trading volume of 2,304 shares, compared to its average volume of 11,796. The company has a current ratio of 0.88, a quick ratio of 0.78 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $6.82 and its 200 day moving average price is $6.84. Ark Restaurants has a 12-month low of $5.75 and a 12-month high of $12.60. The firm has a market capitalization of $23.79 million, a price-to-earnings ratio of -3.79 and a beta of 0.34.

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. Ark Restaurants had a negative return on equity of 8.49% and a negative net margin of 3.97%.The business had revenue of $36.58 million during the quarter.

Institutional Investors Weigh In On Ark Restaurants

Several hedge funds and other institutional investors have recently modified their holdings of ARKR. Empowered Funds LLC grew its stake in Ark Restaurants by 8.1% during the 1st quarter. Empowered Funds LLC now owns 22,383 shares of the restaurant operator’s stock worth $226,000 after buying an additional 1,674 shares during the last quarter. CM Management LLC lifted 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 worth $1,602,000 after acquiring an additional 25,000 shares during the period. Nokomis Capital L.L.C. acquired a new stake in Ark Restaurants during the 3rd quarter worth about $148,000. Finally, Susquehanna International Group LLP acquired a new stake in Ark Restaurants during the 3rd quarter worth about $137,000. 31.95% of the stock is currently owned by hedge funds and other institutional investors.

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.