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

Noodles & Company (NASDAQ:NDLS) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

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

Noodles & Company Stock Performance

NASDAQ NDLS opened at $0.72 on Friday. The business’s 50-day moving average price is $0.90 and its 200 day moving average price is $1.34. The company has a current ratio of 0.31, a quick ratio of 0.17 and a debt-to-equity ratio of 23.66. Noodles & Company has a twelve month low of $0.60 and a twelve month high of $3.50. The company has a market capitalization of $32.89 million, a PE ratio of -0.99 and a beta of 1.57.

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). Noodles & Company had a negative net margin of 6.59% and a negative return on equity of 108.23%. The company had revenue of $122.75 million for the quarter, compared to analyst estimates of $125.43 million. During the same period in the prior year, the company earned $0.04 EPS. On average, research analysts predict that Noodles & Company will post -0.46 earnings per share for the current year.

Hedge Funds Weigh In On Noodles & Company

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new position in Noodles & Company in the second quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Noodles & Company during the second quarter worth approximately $99,000. Creative Planning increased its position in shares of Noodles & Company by 83.2% in the third quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock worth $159,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its stake 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. 65.67% of the stock is owned by institutional investors and hedge funds.

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.