Ark Restaurants (NASDAQ:ARKR) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Ark Restaurants Corp. (NASDAQ:ARKR)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.77 and traded as low as $6.14. Ark Restaurants shares last traded at $6.25, with a volume of 17,062 shares trading hands.

Wall Street Analyst Weigh In

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

Ark Restaurants Price Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.78. The business has a 50 day simple moving average of $6.71 and a 200 day simple moving average of $6.76. The company has a market capitalization of $22.56 million, a price-to-earnings ratio of -3.59 and a beta of 0.32.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ARKR. Empowered Funds LLC lifted its stake in Ark Restaurants by 8.1% during the first 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. CM Management LLC lifted its stake in Ark Restaurants by 12.5% during the third quarter. CM Management LLC now owns 225,000 shares of the restaurant operator’s stock worth $1,602,000 after purchasing an additional 25,000 shares in the last quarter. Nokomis Capital L.L.C. acquired a new position in Ark Restaurants during the third quarter worth $148,000. Finally, Susquehanna International Group LLP acquired a new position in Ark Restaurants during the third quarter worth $137,000. 31.95% of the stock is currently owned by institutional investors and hedge funds.

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.