Noodles & Company (NASDAQ:NDLS) Raised to Hold at StockNews.com

Noodles & Company (NASDAQ:NDLS) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Truist Financial reduced their price target on Noodles & Company from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Noodles & Company Price Performance

Shares of NASDAQ:NDLS opened at $0.60 on Tuesday. The firm has a market capitalization of $27.34 million, a PE ratio of -0.82 and a beta of 1.57. The company has a quick ratio of 0.17, a current ratio of 0.31 and a debt-to-equity ratio of 23.66. The company has a 50-day moving average price of $0.84 and a two-hundred day moving average price of $1.28. Noodles & Company has a twelve month low of $0.58 and a twelve month high of $3.19.

Noodles & Company (NASDAQ:NDLS) last released its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05). Noodles & Company had a negative return on equity of 108.23% and a negative net margin of 6.59%. The business had revenue of $122.75 million during the quarter, compared to the consensus estimate of $125.43 million. During the same period last year, the business posted $0.04 earnings per share. Equities analysts forecast that Noodles & Company will post -0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NDLS. Assenagon Asset Management S.A. boosted its stake in Noodles & Company by 129.7% during the third quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock valued at $53,000 after buying an additional 25,122 shares during the period. Creative Planning increased its stake in Noodles & Company by 83.2% in the 3rd quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock worth $159,000 after acquiring an additional 60,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Noodles & Company in the 2nd quarter valued at about $99,000. Finally, Nantahala Capital Management LLC boosted its position in shares of Noodles & Company by 6.8% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,308,329 shares of the restaurant operator’s stock valued at $6,807,000 after acquiring an additional 275,000 shares during the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Noodles & Company Company Profile

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.