Noodles & Company (NASDAQ:NDLS) Short Interest Update

Noodles & Company (NASDAQ:NDLS) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 523,700 shares, a drop of 19.0% from the September 15th total of 646,200 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 118,500 shares, the days-to-cover ratio is currently 4.4 days.

Noodles & Company Price Performance

NASDAQ:NDLS traded up $0.08 during trading hours on Tuesday, reaching $1.17. 210,037 shares of the company’s stock were exchanged, compared to its average volume of 230,323. The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 8.79. The company has a market capitalization of $53.05 million, a P/E ratio of -3.76 and a beta of 1.73. Noodles & Company has a 12 month low of $1.06 and a 12 month high of $3.50. The business’s 50-day simple moving average is $1.37 and its two-hundred day simple moving average is $1.62.

Noodles & Company (NASDAQ:NDLS) last released its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $127.35 million during the quarter, compared to analyst estimates of $130.45 million. Noodles & Company had a negative return on equity of 42.03% and a negative net margin of 5.03%. During the same period last year, the company posted ($0.02) EPS. Sell-side analysts expect that Noodles & Company will post -0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NDLS. StockNews.com raised Noodles & Company from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and set a $4.00 target price on shares of Noodles & Company in a report on Monday, July 1st.

Hedge Funds Weigh In On Noodles & Company

A number of institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. purchased a new position in Noodles & Company during the 2nd quarter worth approximately $31,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Noodles & Company during the first quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Noodles & Company during the second quarter valued at $99,000. Creative Planning lifted its stake in Noodles & Company by 83.2% in the 3rd quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock worth $159,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new stake in Noodles & Company during the 4th quarter worth about $443,000. Hedge funds and other institutional investors 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.