Short Interest in Ark Restaurants Corp. (NASDAQ:ARKR) Expands By 49.9%

Ark Restaurants Corp. (NASDAQ:ARKR) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 8,730 shares, a growth of 49.9% from the July 30th total of 5,825 shares. Based on an average daily trading volume, of 2,802 shares, the days-to-cover ratio is currently 3.1 days. Approximately 0.4% of the company’s stock are short sold.

Ark Restaurants Stock Performance

Shares of NASDAQ ARKR traded down $0.11 during mid-day trading on Tuesday, reaching $5.38. 533 shares of the company were exchanged, compared to its average volume of 6,668. The company’s 50-day simple moving average is $5.72 and its 200-day simple moving average is $6.36. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $19.42 million, a P/E ratio of -6.11 and a beta of 0.35. Ark Restaurants has a twelve month low of $4.81 and a twelve month high of $9.50.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ark Restaurants in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ark Restaurants currently has an average rating of “Sell”.

Hedge Funds Weigh In On Ark Restaurants

Several institutional investors and hedge funds have recently made changes to their positions in ARKR. Empowered Funds LLC lifted its holdings in Ark Restaurants by 8.1% during 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 during the last quarter. Susquehanna International Group LLP bought a new stake in Ark Restaurants in the 2nd quarter valued at $81,000. Finally, Nokomis Capital L.L.C. acquired a new position in Ark Restaurants in the 3rd quarter valued at $148,000. Institutional investors and hedge funds own 31.95% of the company’s stock.

Ark Restaurants Company Profile

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.