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

Noodles & Company (NASDAQ:NDLS) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

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

Noodles & Company Price Performance

Shares of NDLS traded down $0.01 during mid-day trading on Friday, reaching $1.01. 212,046 shares of the stock traded hands, compared to its average volume of 169,105. The firm has a fifty day moving average price of $1.21 and a 200 day moving average price of $1.57. The company has a market cap of $45.87 million, a price-to-earnings ratio of -1.38 and a beta of 1.73. The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 8.79. Noodles & Company has a 1 year low of $0.99 and a 1 year high of $3.50.

Noodles & Company (NASDAQ:NDLS) last released its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $127.35 million during the quarter, compared to analyst estimates of $130.45 million. Noodles & Company had a negative net margin of 6.59% and a negative return on equity of 86.34%. During the same period in the previous year, the business earned ($0.02) EPS. As a group, equities research analysts predict that Noodles & Company will post -0.33 earnings per share for the current year.

Institutional Trading of Noodles & Company

A number of hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its holdings in shares of 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 acquiring an additional 25,122 shares during the last quarter. Creative Planning lifted its stake in Noodles & Company by 83.2% in the third quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock worth $159,000 after purchasing an additional 60,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Noodles & Company in the second quarter worth $99,000. Nantahala Capital Management LLC lifted its stake in 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 last quarter. Finally, Vanguard Group Inc. lifted its stake in Noodles & Company by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock worth $4,611,000 after purchasing an additional 17,000 shares during the last quarter. 65.67% of the stock is owned by 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.