Fmr LLC Sells 59,871 Shares of Noodles & Company (NASDAQ:NDLS)

Fmr LLC lessened its holdings in Noodles & Company (NASDAQ:NDLS) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,854,275 shares of the restaurant operator’s stock after selling 59,871 shares during the quarter. Fmr LLC owned approximately 4.06% of Noodles & Company worth $2,225,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 purchasing an additional 17,000 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Noodles & Company in the 2nd quarter valued at approximately $31,000. Creative Planning raised its position 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 during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Noodles & Company in the 2nd quarter valued at approximately $99,000. Finally, Nantahala Capital Management LLC raised its position 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 during the period. Institutional investors own 65.67% of the company’s stock.

Noodles & Company Stock Performance

Shares of NDLS stock opened at $0.69 on Friday. The company has a debt-to-equity ratio of 23.66, a quick ratio of 0.17 and a current ratio of 0.31. The company has a market capitalization of $31.66 million, a P/E ratio of -0.95 and a beta of 1.57. The company’s 50 day moving average price is $0.95 and its two-hundred day moving average price is $1.38. Noodles & Company has a 52 week low of $0.60 and a 52 week high of $3.50.

Noodles & Company (NASDAQ:NDLS) last announced its earnings results 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 company 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 quarter last year, the business posted $0.04 earnings per share. On average, analysts expect that Noodles & Company will post -0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NDLS. Truist Financial cut their price target on shares of Noodles & Company from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. StockNews.com downgraded shares of Noodles & Company from a “hold” rating to a “sell” rating in a research report on Friday.

Noodles & 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.