Nantahala Capital Management LLC Acquires 275,000 Shares of Noodles & Company (NASDAQ:NDLS)

Nantahala Capital Management LLC increased its holdings in Noodles & Company (NASDAQ:NDLS) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,308,329 shares of the restaurant operator’s stock after purchasing an additional 275,000 shares during the period. Nantahala Capital Management LLC owned approximately 9.50% of Noodles & Company worth $6,807,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NDLS. Mill Road Capital Management LLC raised its stake in shares of Noodles & Company by 0.3% in the 4th quarter. Mill Road Capital Management LLC now owns 6,965,291 shares of the restaurant operator’s stock valued at $21,941,000 after acquiring an additional 19,700 shares in the last quarter. Sierra Summit Advisors LLC bought a new position in shares of Noodles & Company in the fourth quarter valued at approximately $443,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Noodles & Company in the first quarter worth $32,000. Vanguard Group Inc. boosted its holdings in shares of Noodles & Company by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock worth $4,611,000 after buying an additional 17,000 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Noodles & Company in the 2nd quarter valued at $31,000. 65.67% of the stock is currently owned by institutional investors.

Noodles & Company Stock Performance

Shares of NASDAQ NDLS opened at $1.20 on Tuesday. The firm has a market capitalization of $54.42 million, a price-to-earnings ratio of -4.14 and a beta of 1.74. Noodles & Company has a one year low of $1.08 and a one year high of $3.50. The business has a fifty day simple moving average of $1.50 and a 200 day simple moving average of $1.67. The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 8.79.

Noodles & Company (NASDAQ:NDLS) last announced its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Noodles & Company had a negative net margin of 5.03% and a negative return on equity of 42.03%. The firm had revenue of $127.35 million during the quarter, compared to analysts’ expectations of $130.45 million. During the same quarter last year, the company earned ($0.02) earnings per share. Sell-side analysts expect that Noodles & Company will post -0.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $4.00 price objective on shares of Noodles & Company in a research note on Monday, July 1st. StockNews.com upgraded shares of Noodles & Company from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th.

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.