Noodles & Company (NASDAQ:NDLS) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Noodles & Company (NASDAQ:NDLS) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.23 and traded as low as $0.65. Noodles & Company shares last traded at $0.73, with a volume of 212,152 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NDLS shares. Truist Financial reduced their price objective on shares of Noodles & Company from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, November 8th. StockNews.com raised Noodles & Company from a “sell” rating to a “hold” rating in a report on Tuesday, December 31st.

Noodles & Company Price Performance

The stock’s fifty day moving average price is $0.76 and its 200-day moving average price is $1.21. 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 firm has a market cap of $29.19 million, a PE ratio of -0.88 and a beta of 1.60.

Noodles & Company (NASDAQ:NDLS) last issued its earnings results on Wednesday, November 6th. The restaurant operator reported ($0.12) earnings per share 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 analyst estimates of $125.43 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. As a group, equities analysts forecast that Noodles & Company will post -0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased 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 buying an additional 25,122 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Noodles & Company during the second quarter valued at $99,000. Creative Planning boosted its stake in shares of Noodles & Company by 83.2% during the third 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 last quarter. Finally, Nantahala Capital Management LLC increased its position 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 worth $6,807,000 after purchasing an additional 275,000 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

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.