Royce & Associates LP Lowers Position in Noodles & Company (NASDAQ:NDLS)

Royce & Associates LP decreased its position in shares of Noodles & Company (NASDAQ:NDLS) by 10.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,234,926 shares of the restaurant operator’s stock after selling 265,890 shares during the quarter. Royce & Associates LP owned 4.90% of Noodles & Company worth $2,682,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in shares of Noodles & Company during the 2nd quarter valued at approximately $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Noodles & Company during the second quarter valued at $99,000. Creative Planning grew its position in shares of 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. Vanguard Group Inc. increased its stake in shares of Noodles & Company by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator’s stock worth $4,611,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Nantahala Capital Management LLC raised 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 during the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Noodles & Company Stock Performance

Shares of Noodles & Company stock opened at $0.69 on Wednesday. The business’s 50 day moving average price is $1.14 and its 200 day moving average price is $1.54. The company has a market cap of $31.59 million, a price-to-earnings ratio of -0.95 and a beta of 1.73. The company has a debt-to-equity ratio of 23.66, a quick ratio of 0.17 and a current ratio of 0.31. Noodles & Company has a one year low of $0.65 and a one year high of $3.50.

Noodles & Company (NASDAQ:NDLS) last posted its quarterly earnings results on Wednesday, November 6th. The restaurant operator reported ($0.12) EPS for the quarter, missing the consensus estimate 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 company had revenue of $122.75 million for the quarter, compared to analysts’ expectations of $125.43 million. During the same quarter in the prior year, the firm earned $0.04 EPS. On average, research analysts predict that Noodles & Company will post -0.46 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NDLS shares. Truist Financial decreased their target price on Noodles & Company from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. StockNews.com downgraded shares of Noodles & Company from a “hold” rating to a “sell” rating in a research note on Friday, November 8th.

Noodles & Company Company Profile

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.