Noodles & Company (NASDAQ:NDLS) Upgraded at StockNews.com

Noodles & Company (NASDAQ:NDLS) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Truist Financial lowered their target price on shares of Noodles & Company from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, November 8th.

Noodles & Company Trading Down 0.8 %

Shares of Noodles & Company stock traded down $0.01 during mid-day trading on Tuesday, hitting $1.31. 81,799 shares of the stock were exchanged, compared to its average volume of 274,017. The stock has a market capitalization of $59.84 million, a price-to-earnings ratio of -1.79 and a beta of 1.77. Noodles & Company has a twelve month low of $0.55 and a twelve month high of $2.55. 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 simple moving average of $1.17 and a 200 day simple moving average of $1.11.

Institutional Trading of Noodles & Company

Hedge funds have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC increased its stake in shares of Noodles & Company by 17.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 147,300 shares of the restaurant operator’s stock valued at $85,000 after acquiring an additional 21,800 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Noodles & Company by 129.7% in the third quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 25,122 shares during the period. Finally, Creative Planning increased its position in 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 last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

About Noodles & Company

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.