Noodles & Company (NASDAQ:NDLS) Upgraded to “Hold” at StockNews.com

Noodles & Company (NASDAQ:NDLS) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

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 report on Friday, November 8th.

Noodles & Company Trading Down 3.3 %

Shares of NASDAQ:NDLS opened at $0.58 on Tuesday. Noodles & Company has a 12-month low of $0.55 and a 12-month high of $3.19. The company has a market cap of $26.44 million, a PE ratio of -0.79 and a beta of 1.58. The stock has a 50 day moving average of $0.81 and a 200 day moving average of $1.26. The company has a current ratio of 0.31, a quick ratio of 0.17 and a debt-to-equity ratio of 23.66.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NDLS. Assenagon Asset Management S.A. grew its stake in shares of Noodles & Company by 129.7% in 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in Noodles & Company during the second quarter worth $99,000. Creative Planning lifted its holdings in shares of 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 during the last quarter. Finally, Nantahala Capital Management LLC grew its holdings in 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 valued at $6,807,000 after purchasing an additional 275,000 shares during the last quarter. 65.67% of the stock is currently 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.