Noodles & Company (NASDAQ:NDLS) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Noodles & Company (NASDAQ:NDLS) from a sell rating to a hold rating in a research report report published 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 $0.72 on Friday. Noodles & Company has a twelve month low of $0.60 and a twelve month high of $3.50. 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 $32.89 million, a P/E ratio of -0.99 and a beta of 1.57. The stock’s 50 day moving average is $0.90 and its 200 day moving average is $1.34.

Noodles & Company (NASDAQ:NDLS) last released its earnings results on Wednesday, November 6th. The restaurant operator reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The company had revenue of $122.75 million during the quarter, compared to analysts’ expectations 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 company posted $0.04 earnings per share. On average, equities research analysts predict that Noodles & Company will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. purchased a new stake in shares of Noodles & Company during the second quarter valued at $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Noodles & Company during the 2nd quarter valued at about $99,000. Creative Planning lifted 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 valued at $159,000 after acquiring an additional 60,000 shares during the period. Finally, Nantahala Capital Management LLC boosted its holdings 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 last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Noodles & Company Company Profile

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.