Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Drops By 35.7%

Ark Restaurants Corp. (NASDAQ:ARKR) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 13,700 shares, a drop of 35.7% from the March 15th total of 21,300 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 6,600 shares, the short-interest ratio is currently 2.1 days.

Ark Restaurants Trading Up 1.5 %

Ark Restaurants stock opened at $8.73 on Friday. The company has a market capitalization of $31.44 million, a price-to-earnings ratio of -15.04 and a beta of 0.65. The stock’s 50 day moving average is $10.07 and its 200-day moving average is $11.36. Ark Restaurants has a 12 month low of $8.25 and a 12 month high of $17.76.

Ark Restaurants (NASDAQ:ARKR) last announced its earnings results on Monday, February 10th. The restaurant operator reported $0.18 earnings per share (EPS) for the quarter. Ark Restaurants had a negative net margin of 1.16% and a positive return on equity of 4.22%.

Institutional Investors Weigh In On Ark Restaurants

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its position in shares of Ark Restaurants by 4.9% during the 4th quarter. Empowered Funds LLC now owns 20,709 shares of the restaurant operator’s stock valued at $228,000 after acquiring an additional 967 shares during the period. Aristides Capital LLC lifted its position in Ark Restaurants by 9.2% during the fourth quarter. Aristides Capital LLC now owns 20,661 shares of the restaurant operator’s stock worth $227,000 after purchasing an additional 1,733 shares during the period. Geode Capital Management LLC increased its holdings in Ark Restaurants by 50.4% in the 3rd quarter. Geode Capital Management LLC now owns 20,949 shares of the restaurant operator’s stock valued at $251,000 after buying an additional 7,017 shares during the period. Finally, Northern Trust Corp bought a new stake in shares of Ark Restaurants during the 4th quarter worth approximately $147,000. 31.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Ark Restaurants in a research note on Saturday, April 12th. They set a “buy” rating for the company.

About Ark Restaurants

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.