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

Ark Restaurants Corp. (NASDAQ:ARKR) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 5,800 shares, a decline of 20.5% from the November 15th total of 7,300 shares. Based on an average trading volume of 9,700 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the shares of the stock are short sold.

Ark Restaurants Trading Down 4.4 %

NASDAQ ARKR traded down $0.62 during trading on Friday, reaching $13.48. 2,008 shares of the company’s stock were exchanged, compared to its average volume of 5,079. The firm has a market capitalization of $48.53 million, a PE ratio of -4.96 and a beta of 0.98. Ark Restaurants has a fifty-two week low of $9.75 and a fifty-two week high of $16.25. The company’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $12.48.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Ark Restaurants in a research note on Friday. They set a “buy” rating for the company.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently raised its stake in Ark Restaurants stock. CM Management LLC boosted its position in shares of Ark Restaurants Corp. (NASDAQ:ARKR) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,000 shares of the restaurant operator’s stock after purchasing an additional 15,393 shares during the period. Ark Restaurants accounts for approximately 2.3% of CM Management LLC’s portfolio, making the stock its 13th biggest position. CM Management LLC owned about 5.55% of Ark Restaurants worth $2,622,000 at the end of the most recent reporting period. 31.95% of the stock is owned by hedge funds and other institutional investors.

Ark Restaurants Company Profile

Ark Restaurants Corp., through its subsidiaries, owns and operates restaurants and bars in the United States. It operates restaurants in New York City; Washington, DC; Las Vegas, Nevada; Atlantic City, New Jersey; Florida; and Alabama, as well as fast food concepts and catering operations. The company was incorporated in 1983 and is based in New York, New York.