Noodles & Company (NASDAQ:NDLS) Stock Passes Below 200 Day Moving Average – Here’s Why

Noodles & Company (NASDAQ:NDLS) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.23 and traded as low as $0.65. Noodles & Company shares last traded at $0.73, with a volume of 212,152 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on NDLS shares. StockNews.com raised Noodles & Company from a “sell” rating to a “hold” rating in a report on Tuesday, December 31st. Truist Financial dropped their target price on Noodles & Company from $4.00 to $3.00 and set a “buy” rating for the company in a report on Friday, November 8th.

Noodles & Company Price Performance

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’s fifty day moving average price is $0.78 and its 200 day moving average price is $1.23. The company has a market capitalization of $33.30 million, a P/E ratio of -1.00 and a beta of 1.60.

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

Institutional Investors Weigh In On Noodles & Company

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

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.