StockNews.com Downgrades Noodles & Company (NASDAQ:NDLS) to Sell

StockNews.com lowered shares of Noodles & Company (NASDAQ:NDLS) from a hold rating to a sell rating in a research report released on Friday.

Separately, Truist Financial cut their price objective 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 Price Performance

NDLS stock opened at $0.69 on Friday. Noodles & Company has a 12-month low of $0.60 and a 12-month high of $3.50. 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 firm has a 50 day moving average of $0.95 and a 200-day moving average of $1.39. The company has a market cap of $31.66 million, a price-to-earnings ratio of -0.95 and a beta of 1.57.

Noodles & Company (NASDAQ:NDLS) last released 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 firm had revenue of $122.75 million during the quarter, compared to analysts’ expectations of $125.43 million. During the same period in the previous year, the firm posted $0.04 earnings per share. As a group, equities analysts expect that Noodles & Company will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Noodles & Company

Several large investors have recently bought and sold shares of NDLS. Vanguard Group Inc. lifted its holdings in shares of Noodles & Company by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock valued at $4,611,000 after buying an additional 17,000 shares during the period. Assenagon Asset Management S.A. bought a new stake in Noodles & Company in the second quarter worth about $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Noodles & Company in the 2nd quarter valued at about $99,000. Nantahala Capital Management LLC boosted 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 purchasing an additional 275,000 shares in the last quarter. Finally, Creative Planning grew its stake 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 last quarter. Institutional investors and hedge funds 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.