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

Noodles & Company (NASDAQ:NDLS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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

Noodles & Company Stock Down 6.1 %

NASDAQ:NDLS opened at $0.63 on Thursday. Noodles & Company has a 52 week low of $0.60 and a 52 week high of $3.50. The firm has a market capitalization of $28.69 million, a PE ratio of -0.86 and a beta of 1.57. 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 has a 50 day moving average of $0.99 and a 200-day moving average of $1.42.

Noodles & Company (NASDAQ:NDLS) last issued its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $122.75 million during the quarter, compared to analyst estimates of $125.43 million. During the same period in the prior year, the company posted $0.04 earnings per share. Analysts predict that Noodles & Company will post -0.46 EPS for the current year.

Institutional Investors Weigh In On Noodles & Company

A number of institutional investors have recently added to or reduced their stakes in NDLS. Assenagon Asset Management S.A. bought a new stake in shares of Noodles & Company in the 2nd quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Noodles & Company in the second quarter valued at $99,000. Creative Planning grew its position in Noodles & Company by 83.2% in the third 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 during the period. Vanguard Group Inc. raised its stake in Noodles & Company by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock worth $4,611,000 after acquiring an additional 17,000 shares in the last quarter. Finally, Nantahala Capital Management LLC lifted its holdings in shares of Noodles & Company by 6.8% during the second 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 period. 65.67% of the stock is 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.