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

StockNews.com lowered shares of Noodles & Company (NASDAQ:NDLS) from a hold rating to a sell rating in a research note published on Friday morning.

Separately, Truist Financial cut their price objective 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, November 8th.

Noodles & Company Stock Up 27.5 %

NASDAQ NDLS opened at $1.39 on Friday. 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 $0.73 and a 200-day moving average of $1.14. Noodles & Company has a 1-year low of $0.55 and a 1-year high of $2.81.

Noodles & Company (NASDAQ:NDLS) last posted its quarterly earnings data on Wednesday, November 6th. The restaurant operator reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.05). The company had revenue of $122.75 million for the quarter, compared to the consensus estimate 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 last year, the business earned $0.04 EPS. As a group, equities research analysts expect that Noodles & Company will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Noodles & Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised 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 in the last quarter. Creative Planning grew its position in 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Noodles & Company in the second quarter valued at about $99,000. Finally, Nantahala Capital Management LLC raised its stake in Noodles & Company by 6.8% during the second quarter. Nantahala Capital Management LLC now owns 4,308,329 shares of the restaurant operator’s stock worth $6,807,000 after acquiring an additional 275,000 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors.

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.