Ark Restaurants (NASDAQ:ARKR) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Ark Restaurants Corp. (NASDAQ:ARKR) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.80 and traded as low as $6.31. Ark Restaurants shares last traded at $6.31, with a volume of 9,671 shares trading hands.

Wall Street Analysts Forecast Growth

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

Ark Restaurants Stock Performance

The company has a market cap of $22.75 million, a PE ratio of -3.63 and a beta of 0.34. 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 is $6.79 and its two-hundred day moving average is $6.80.

Ark Restaurants (NASDAQ:ARKR) last posted its quarterly earnings results on Monday, May 11th. The restaurant operator reported ($0.50) EPS for the quarter. The business had revenue of $36.58 million for the quarter. Ark Restaurants had a negative net margin of 3.97% and a negative return on equity of 8.49%.

Institutional Trading of Ark Restaurants

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARKR. Empowered Funds LLC lifted its holdings in Ark Restaurants by 8.1% in the 1st quarter. Empowered Funds LLC now owns 22,383 shares of the restaurant operator’s stock worth $226,000 after purchasing an additional 1,674 shares in the last quarter. Nokomis Capital L.L.C. purchased a new stake in Ark Restaurants during the 3rd quarter valued at approximately $148,000. Susquehanna International Group LLP bought a new stake in shares of Ark Restaurants during the third quarter valued at approximately $137,000. Finally, CM Management LLC raised its position in shares of Ark Restaurants by 12.5% during the third quarter. CM Management LLC now owns 225,000 shares of the restaurant operator’s stock valued at $1,602,000 after buying an additional 25,000 shares during the last quarter. Institutional investors own 31.95% of the company’s stock.

About Ark Restaurants

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.