Ark Restaurants (NASDAQ:ARKR) Shares Break Above Fifty Day Moving Average – What’s Next?

Shares of Ark Restaurants Corp. (NASDAQ:ARKR) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $4.74 and traded as high as $5.11. Ark Restaurants shares last traded at $5.01, with a volume of 10,395 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ark Restaurants in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has an average rating of “Sell”.

Ark Restaurants Trading Up 8.0%

The company has a market capitalization of $18.09 million, a PE ratio of -5.69 and a beta of 0.37. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.78 and a quick ratio of 0.68. The company’s fifty day moving average is $4.74 and its 200-day moving average is $6.02.

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

Insider Activity at Ark Restaurants

In related news, CEO Michael Lawrence Weinstein sold 176,701 shares of the stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $4.57, for a total transaction of $807,523.57. Following the completion of the sale, the chief executive officer owned 856,111 shares of the company’s stock, valued at $3,912,427.27. This represents a 17.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 37.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ark Restaurants

A hedge fund recently bought a new stake in Ark Restaurants stock. Susquehanna International Group LLP bought a new position in Ark Restaurants Corp. (NASDAQ:ARKR) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,745 shares of the restaurant operator’s stock, valued at approximately $81,000. Susquehanna International Group LLP owned about 0.38% of Ark Restaurants at the end of the most recent reporting period. 31.95% of the stock is owned by institutional investors.

Ark Restaurants Company Profile

Ark Restaurants Corp. owns and operates a portfolio of restaurants, bars and other food-service venues in the United States. Its establishments span a range of dining formats, including full-service restaurants, casual dining locations, steakhouses, bars and limited-service food concepts. The company serves a variety of cuisines and customer segments, from everyday dining to destination and entertainment-oriented venues.

Ark Restaurants’ operations have historically been concentrated in major hospitality and tourism markets, including New York City, Washington, DC, and Las Vegas, Nevada, with additional locations in other U.S.