StockNews.com Upgrades Noodles & Company (NASDAQ:NDLS) to “Hold”

Noodles & Company (NASDAQ:NDLS) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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

Noodles & Company Trading Down 0.8 %

Shares of Noodles & Company stock traded down $0.01 during trading hours on Tuesday, hitting $1.31. The company’s stock had a trading volume of 81,799 shares, compared to its average volume of 274,017. The business has a fifty day moving average of $1.17 and a 200 day moving average of $1.11. Noodles & Company has a 1-year low of $0.55 and a 1-year high of $2.55. The company has a quick ratio of 0.17, a current ratio of 0.31 and a debt-to-equity ratio of 23.66. The company has a market capitalization of $59.84 million, a PE ratio of -1.79 and a beta of 1.77.

Hedge Funds Weigh In On Noodles & Company

A number of institutional investors and hedge funds have recently bought and sold shares of NDLS. Bridgeway Capital Management LLC lifted its position in shares of Noodles & Company by 17.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 147,300 shares of the restaurant operator’s stock worth $85,000 after purchasing an additional 21,800 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Noodles & Company by 129.7% during 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 during the period. Finally, Creative Planning increased its stake in Noodles & Company by 83.2% during 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. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Noodles & Company Company Profile

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.