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

StockNews.com upgraded shares of Noodles & Company (NASDAQ:NDLS) from a sell rating to a hold rating in a research note published on Thursday.

Separately, Truist Financial dropped their price objective on Noodles & Company from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

Noodles & Company Stock Performance

Shares of Noodles & Company stock opened at $0.67 on Thursday. The company has a market capitalization of $30.56 million, a PE ratio of -0.92 and a beta of 1.57. Noodles & Company has a 12 month low of $0.65 and a 12 month high of $3.50. The company has a current ratio of 0.31, a quick ratio of 0.17 and a debt-to-equity ratio of 23.66. The stock’s fifty day simple moving average is $1.00 and its 200 day simple moving average is $1.44.

Noodles & Company (NASDAQ:NDLS) last issued 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). The business had revenue of $122.75 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.04 EPS. On average, research analysts predict that Noodles & Company will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Noodles & Company

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in Noodles & Company during the 2nd quarter worth about $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Noodles & Company in the 2nd quarter valued at about $99,000. Creative Planning grew its holdings in shares of Noodles & Company by 83.2% in the 3rd quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock valued at $159,000 after acquiring an additional 60,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Noodles & Company by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock valued at $4,611,000 after acquiring an additional 17,000 shares in the last quarter. Finally, Nantahala Capital Management LLC grew 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 acquiring an additional 275,000 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

About Noodles & Company

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.