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

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

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

Noodles & Company Stock Up 27.5 %

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

Noodles & Company (NASDAQ:NDLS) last issued its earnings results on Wednesday, November 6th. The restaurant operator reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The firm had revenue of $122.75 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.04 earnings per share. On average, equities research analysts forecast that Noodles & Company will post -0.43 earnings per share for the current year.

Institutional Trading of Noodles & Company

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its holdings 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 buying an additional 25,122 shares in the last quarter. Creative Planning grew its stake in shares of Noodles & Company by 83.2% in the third 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. Point72 Asia Singapore Pte. Ltd. bought a new position in Noodles & Company during the second quarter worth about $99,000. Finally, Nantahala Capital Management LLC raised its stake in Noodles & Company by 6.8% in the 2nd 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 in the last quarter. Institutional investors and hedge funds 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.