Noodles & Company (NASDAQ:NDLS) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Noodles & Company (NASDAQ:NDLS) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.23 and traded as low as $0.65. Noodles & Company shares last traded at $0.73, with a volume of 212,152 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NDLS. Truist Financial reduced their price objective on 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 raised Noodles & Company from a “sell” rating to a “hold” rating in a research note on Tuesday, December 31st.

Noodles & Company Trading Up 7.1 %

The company has a debt-to-equity ratio of 23.66, a current ratio of 0.31 and a quick ratio of 0.17. The company has a market cap of $33.30 million, a price-to-earnings ratio of -1.00 and a beta of 1.60. The business’s fifty day moving average price is $0.78 and its 200 day moving average price is $1.23.

Noodles & Company (NASDAQ:NDLS) last announced its earnings results on Wednesday, November 6th. The restaurant operator reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $125.43 million. During the same period in the prior year, the business earned $0.04 earnings per share. Research analysts anticipate that Noodles & Company will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Noodles & Company

Several institutional investors have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC raised its holdings in Noodles & Company by 6.8% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,308,329 shares of the restaurant operator’s stock worth $6,807,000 after purchasing an additional 275,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Noodles & Company during the second quarter worth $99,000. Creative Planning increased its position in shares of Noodles & Company by 83.2% during the third quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock worth $159,000 after buying an additional 60,000 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Noodles & Company by 129.7% during the third quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock worth $53,000 after buying an additional 25,122 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.

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.