Noodles & Company (NASDAQ:NDLS) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Noodles & Company (NASDAQ:NDLS) from a hold rating to a sell rating in a research note issued to investors on Friday.

Separately, Truist Financial dropped 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.

Noodles & Company Stock Down 5.1 %

NASDAQ:NDLS opened at $0.69 on Friday. The firm’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $1.38. The company has a debt-to-equity ratio of 23.66, a current ratio of 0.31 and a quick ratio of 0.17. Noodles & Company has a one year low of $0.60 and a one year high of $3.50. The company has a market cap of $31.66 million, a PE ratio of -0.95 and a beta of 1.57.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Noodles & Company by 129.7% during the 3rd 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 period. Creative Planning lifted its position in shares of Noodles & Company by 83.2% during 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. Nantahala Capital Management LLC lifted its position in shares of 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 valued at $6,807,000 after acquiring an additional 275,000 shares during the period. Vanguard Group Inc. lifted its position 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 valued at $4,611,000 after acquiring an additional 17,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Noodles & Company during the 2nd quarter valued at $99,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

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.