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

Noodles & Company (NASDAQ:NDLS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

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

Noodles & Company Price Performance

Shares of Noodles & Company stock traded up $0.30 on Friday, reaching $1.39. 788,970 shares of the stock were exchanged, compared to its average volume of 406,418. The company has a debt-to-equity ratio of 23.66, a quick ratio of 0.17 and a current ratio of 0.31. The firm has a market cap of $63.50 million, a PE ratio of -1.90 and a beta of 1.60. The firm’s 50 day moving average is $0.73 and its 200-day moving average is $1.14. Noodles & Company has a one year low of $0.55 and a one year high of $2.81.

Noodles & Company (NASDAQ:NDLS) last released its quarterly earnings data 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 net margin of 6.59% and a negative return on equity of 108.23%. The firm had revenue of $122.75 million during the quarter, compared to analyst estimates of $125.43 million. During the same period in the prior year, the company earned $0.04 EPS. As a group, analysts anticipate that Noodles & Company will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Noodles & Company

Several institutional investors and hedge funds have recently made changes to their positions in NDLS. Assenagon Asset Management S.A. increased its holdings in Noodles & Company by 129.7% in the third quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 25,122 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Noodles & Company during the 2nd quarter worth approximately $99,000. Creative Planning increased 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 valued at $159,000 after acquiring an additional 60,000 shares in the last quarter. Finally, 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. Institutional investors own 65.67% of the company’s stock.

About Noodles & Company

Noodles & Co engages in the business of development and operation of fast-casual restaurants that serve noodle and pasta dishes, soups, salads, and appetizers. The firm also offers pleasant dining, pick-up, and delivery experiences by quickly preparing fresh food with friendly service. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.