Noodles & Company (NASDAQ:NDLS) Upgraded at StockNews.com

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

Separately, Truist Financial dropped their target price on shares of 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 Stock Performance

Noodles & Company stock opened at $0.67 on Friday. 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 firm has a market capitalization of $30.65 million, a P/E ratio of -0.92 and a beta of 1.58. Noodles & Company has a 1-year low of $0.60 and a 1-year high of $3.50. The company’s 50-day moving average is $0.89 and its 200 day moving average is $1.32.

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

Institutional Trading of Noodles & Company

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. bought a new stake in shares of Noodles & Company in the 2nd quarter valued at about $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Noodles & Company during the second quarter valued at approximately $99,000. Nantahala Capital Management LLC increased its holdings in Noodles & Company by 6.8% during 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 buying an additional 275,000 shares during the period. Finally, Creative Planning raised its stake in Noodles & Company by 83.2% in 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 in 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.