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 report released on Tuesday morning.

Separately, Truist Financial decreased their price target 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

Shares of NDLS opened at $0.59 on Tuesday. Noodles & Company has a 12-month low of $0.55 and a 12-month high of $3.10. The stock has a market cap of $26.85 million, a P/E ratio of -0.81 and a beta of 1.58. The company has a current ratio of 0.31, a quick ratio of 0.17 and a debt-to-equity ratio of 23.66. The company has a 50-day moving average of $0.80 and a two-hundred day moving average of $1.26.

Noodles & Company (NASDAQ:NDLS) last issued its quarterly earnings data 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 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 prior year, the firm earned $0.04 earnings per share. As a group, research analysts predict that Noodles & Company will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Noodles & Company

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased 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 buying an additional 25,122 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Noodles & Company in the second quarter worth $99,000. Creative Planning raised its stake in shares of Noodles & Company by 83.2% in 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 increased its holdings 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 valued at $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.

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.