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

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

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

Noodles & Company Stock Performance

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

Noodles & Company (NASDAQ:NDLS) last posted its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The firm had revenue of $122.75 million for the quarter, compared to analysts’ expectations of $125.43 million. Noodles & Company had a negative net margin of 6.59% and a negative return on equity of 108.23%. During the same quarter in the prior year, the business earned $0.04 EPS. As a group, sell-side analysts expect that Noodles & Company will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Noodles & Company

Several hedge funds and other institutional investors have recently bought and sold shares of NDLS. Assenagon Asset Management S.A. purchased a new position in shares of Noodles & Company during the 2nd quarter valued at approximately $31,000. Creative Planning raised its holdings in Noodles & Company by 83.2% in the third 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Noodles & Company during the 2nd quarter valued at $99,000. Finally, Nantahala Capital Management LLC boosted its stake 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 valued at $6,807,000 after acquiring an additional 275,000 shares during the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

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.