Shares of Noodles & Company (NASDAQ:NDLS – Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.59 and traded as low as $1.14. Noodles & Company shares last traded at $1.34, with a volume of 1,071,209 shares traded.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on NDLS. StockNews.com raised Noodles & Company from a “sell” rating to a “hold” rating in a research report on Thursday, August 29th. Truist Financial reiterated a “buy” rating and issued a $4.00 price objective on shares of Noodles & Company in a report on Monday, July 1st.
Check Out Our Latest Stock Analysis on NDLS
Noodles & Company Price Performance
Noodles & Company (NASDAQ:NDLS – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The restaurant operator reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $127.35 million during the quarter, compared to the consensus estimate 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 earned ($0.02) earnings per share. On average, sell-side analysts anticipate that Noodles & Company will post -0.33 earnings per share for the current fiscal year.
Institutional Trading of Noodles & Company
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC raised its stake in Noodles & Company by 6.8% in the second 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 period. Vanguard Group Inc. raised its stake in Noodles & Company by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock valued at $4,611,000 after acquiring an additional 17,000 shares during the period. Creative Planning raised 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 valued at $159,000 after acquiring an additional 60,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Noodles & Company during the 2nd quarter valued at $99,000. Finally, Assenagon Asset Management S.A. boosted its position in Noodles & Company by 129.7% during the third quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock worth $53,000 after purchasing an additional 25,122 shares during the period. 65.67% of the stock is owned by institutional investors.
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.
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