Noodles & Company (NASDAQ:NDLS) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Noodles & Company (NASDAQ:NDLS)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.23 and traded as low as $0.65. Noodles & Company shares last traded at $0.73, with a volume of 212,152 shares.

Wall Street Analyst Weigh In

Several analysts recently commented on NDLS shares. StockNews.com upgraded shares of Noodles & Company from a “sell” rating to a “hold” rating in a report on Tuesday, December 31st. Truist Financial dropped their target price 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 Stock Down 12.3 %

The business has a 50-day simple moving average of $0.76 and a 200-day simple moving average of $1.21. The company has a debt-to-equity ratio of 23.66, a quick ratio of 0.17 and a current ratio of 0.31. The company has a market cap of $29.19 million, a price-to-earnings ratio of -0.88 and a beta of 1.60.

Noodles & Company (NASDAQ:NDLS) last announced its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.05). Noodles & Company had a negative net margin of 6.59% and a negative return on equity of 108.23%. The company had revenue of $122.75 million during the quarter, compared to analysts’ expectations of $125.43 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. On average, equities analysts anticipate that Noodles & Company will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of Noodles & Company

A number of large investors have recently bought and sold shares of NDLS. Assenagon Asset Management S.A. lifted its position 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 acquiring an additional 25,122 shares during the period. Creative Planning lifted its holdings in shares of Noodles & Company by 83.2% during 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 period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Noodles & Company in the 2nd quarter valued at $99,000. Finally, Nantahala Capital Management LLC grew its position 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 buying an additional 275,000 shares during 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.