Noodles & Company (NASDAQ:NDLS – Get Free Report) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.
Separately, Truist Financial lowered their price objective on Noodles & Company from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, November 8th.
Read Our Latest Analysis on NDLS
Noodles & Company Price Performance
Noodles & Company (NASDAQ:NDLS – Get Free Report) 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). Noodles & Company had a negative return on equity of 108.23% and a negative net margin of 6.59%. The business had revenue of $122.75 million during the quarter, compared to analysts’ expectations of $125.43 million. During the same period last year, the business earned $0.04 earnings per share. Sell-side analysts predict that Noodles & Company will post -0.46 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Nantahala Capital Management LLC grew its stake in shares of Noodles & Company by 6.8% in 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. Creative Planning boosted its position in shares of Noodles & Company by 83.2% during the 3rd quarter. Creative Planning now owns 132,130 shares of the restaurant operator’s stock worth $159,000 after purchasing an additional 60,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Noodles & Company in the second quarter valued at about $99,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Noodles & Company by 129.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 44,491 shares of the restaurant operator’s stock worth $53,000 after acquiring an additional 25,122 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.
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.
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