Noodles & Company (NASDAQ:NDLS) Lowered to Sell Rating by StockNews.com

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

Separately, Truist Financial dropped 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

NDLS traded down $0.04 during mid-day trading on Friday, reaching $0.69. 96,342 shares of the company traded hands, compared to its average volume of 227,873. The company’s fifty day moving average price is $0.95 and its 200-day moving average price is $1.39. The stock has a market capitalization of $31.66 million, a P/E ratio of -0.95 and a beta of 1.57. The company has a quick ratio of 0.17, a current ratio of 0.31 and a debt-to-equity ratio of 23.66. Noodles & Company has a 52-week low of $0.60 and a 52-week high of $3.50.

Noodles & Company (NASDAQ:NDLS) last posted its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported ($0.12) 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 firm had revenue of $122.75 million for the quarter, compared to analysts’ expectations of $125.43 million. During the same quarter last year, the company posted $0.04 EPS. On average, sell-side analysts expect that Noodles & Company will post -0.46 EPS for the current year.

Hedge Funds Weigh In On Noodles & Company

Several institutional investors and hedge funds have recently bought and sold shares of NDLS. Nantahala Capital Management LLC boosted its position in shares of Noodles & Company by 6.8% in the second quarter. Nantahala Capital Management LLC now owns 4,308,329 shares of the restaurant operator’s stock worth $6,807,000 after purchasing an additional 275,000 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Noodles & Company during the 2nd quarter valued at $99,000. Creative Planning boosted its holdings in 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 buying an additional 60,000 shares during the period. Assenagon Asset Management S.A. increased its stake in Noodles & Company by 129.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock worth $53,000 after buying an additional 25,122 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Noodles & Company by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock worth $4,611,000 after buying an additional 17,000 shares in the last quarter. 65.67% of the stock is currently owned by hedge funds and other 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.