Noodles & Company (NASDAQ:NDLS) Stock Rating Upgraded by StockNews.com

Noodles & Company (NASDAQ:NDLS) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Truist Financial cut their target price 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 Trading Down 2.0 %

NASDAQ NDLS opened at $0.60 on Tuesday. 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 business has a fifty day simple moving average of $0.84 and a 200 day simple moving average of $1.28. Noodles & Company has a 12 month low of $0.58 and a 12 month high of $3.19. The firm has a market capitalization of $27.34 million, a P/E ratio of -0.82 and a beta of 1.57.

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

Hedge Funds Weigh In On Noodles & Company

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in Noodles & Company by 129.7% in the third quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock valued at $53,000 after acquiring an additional 25,122 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Noodles & Company in the 2nd quarter worth approximately $99,000. Creative Planning raised 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 worth $159,000 after purchasing an additional 60,000 shares during the period. Finally, Nantahala Capital Management LLC lifted its stake in Noodles & Company by 6.8% in 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 purchasing an additional 275,000 shares during the last quarter. Institutional investors own 65.67% of the company’s stock.

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.