Noodles & Company (NASDAQ:NDLS) Downgraded by StockNews.com to “Sell”

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

Separately, Truist Financial lowered their price objective on 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

NASDAQ:NDLS opened at $1.39 on Friday. 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 stock’s 50-day moving average is $0.73 and its 200-day moving average is $1.14. Noodles & Company has a 1-year low of $0.55 and a 1-year high of $2.81.

Noodles & Company (NASDAQ:NDLS) last announced its earnings results 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). The company had revenue of $122.75 million for the quarter, compared to the consensus estimate of $125.43 million. Noodles & Company had a negative return on equity of 108.23% and a negative net margin of 6.59%. During the same period in the prior year, the business earned $0.04 earnings per share. Sell-side analysts expect that Noodles & Company will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NDLS. Assenagon Asset Management S.A. grew 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 valued at $53,000 after purchasing an additional 25,122 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Noodles & Company in the 2nd quarter worth about $99,000. Creative Planning grew its position in Noodles & Company by 83.2% during the third quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock valued at $159,000 after buying an additional 60,000 shares during the period. Finally, 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 worth $6,807,000 after buying an additional 275,000 shares during the last quarter. 65.67% of the stock is owned by institutional investors.

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.