Noodles & Company (NASDAQ:NDLS) Short Interest Up 33.5% in February

Noodles & Company (NASDAQ:NDLS) saw a large growth in short interest in February. As of February 13th, there was short interest totaling 1,721,812 shares, a growth of 33.5% from the January 29th total of 1,289,686 shares. Approximately 30.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 325,110 shares, the days-to-cover ratio is presently 5.3 days. Based on an average daily trading volume, of 325,110 shares, the days-to-cover ratio is presently 5.3 days. Approximately 30.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of Noodles & Company in the 4th quarter worth about $28,000. XTX Topco Ltd boosted its stake in Noodles & Company by 228.5% in the fourth quarter. XTX Topco Ltd now owns 94,746 shares of the restaurant operator’s stock valued at $67,000 after acquiring an additional 65,907 shares during the last quarter. State Street Corp increased its stake in shares of Noodles & Company by 31.1% during the 4th quarter. State Street Corp now owns 181,963 shares of the restaurant operator’s stock worth $128,000 after purchasing an additional 43,211 shares during the last quarter. Renaissance Technologies LLC increased its position in Noodles & Company by 35.7% in the fourth quarter. Renaissance Technologies LLC now owns 93,500 shares of the restaurant operator’s stock worth $66,000 after buying an additional 24,600 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Noodles & Company by 34,246.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 49,802 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 49,657 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NDLS. Wall Street Zen upgraded Noodles & Company to a “sell” rating in a research note on Saturday, December 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Noodles & Company in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $24.00.

Noodles & Company Stock Performance

Shares of NDLS stock traded up $0.41 during trading hours on Monday, hitting $6.28. 75,792 shares of the company were exchanged, compared to its average volume of 48,672. The firm has a market cap of $36.73 million, a P/E ratio of -0.79 and a beta of 1.54. The company has a 50 day simple moving average of $5.48 and a two-hundred day simple moving average of $5.55. Noodles & Company has a fifty-two week low of $3.57 and a fifty-two week high of $11.52.

About Noodles & Company

Noodles & Company is an American fast-casual restaurant chain that specializes in a variety of noodle and pasta dishes inspired by global cuisines. Its menu features signature entrees such as the Wisconsin Mac & Cheese and Japanese Pan Noodles, alongside soups, salads, shareable sides and seasonal offerings. The brand emphasizes fresh ingredients, customizable meals and a quick-service format designed to accommodate dine-in, takeout and digital ordering channels.

The company was founded in 1995 by Aaron Kennedy in Boulder, Colorado, with the aim of introducing a diverse noodle-centric menu to the American market.