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

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

Separately, Truist Financial dropped their price objective on shares of Noodles & Company from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, November 8th.

Noodles & Company Stock Performance

Noodles & Company stock opened at $0.59 on Tuesday. Noodles & Company has a fifty-two week low of $0.55 and a fifty-two week high of $3.10. 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 50 day moving average price of $0.80 and a 200-day moving average price of $1.26. The company has a market capitalization of $26.85 million, a PE ratio of -0.81 and a beta of 1.58.

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

Hedge Funds Weigh In On Noodles & Company

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position 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 acquiring an additional 25,122 shares during the last quarter. Creative Planning lifted 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 purchasing an additional 60,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Noodles & Company in the 2nd quarter valued at approximately $99,000. Finally, Nantahala Capital Management LLC boosted its position in shares of Noodles & Company by 6.8% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,308,329 shares of the restaurant operator’s stock worth $6,807,000 after purchasing an additional 275,000 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

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.