Noodles & Company (NASDAQ:NDLS) Sees Large Decrease in Short Interest

Noodles & Company (NASDAQ:NDLS) was the recipient of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 272,062 shares, a drop of 14.7% from the February 26th total of 318,969 shares. Based on an average trading volume of 55,047 shares, the days-to-cover ratio is presently 4.9 days. Currently, 4.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On Noodles & Company

Several institutional investors and hedge funds have recently added to or reduced their stakes in NDLS. Assenagon Asset Management S.A. raised its position in shares of Noodles & Company by 117.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 44,630 shares of the restaurant operator’s stock valued at $32,000 after buying an additional 24,065 shares during the last quarter. Renaissance Technologies LLC boosted its position in Noodles & Company by 35.7% during the fourth quarter. Renaissance Technologies LLC now owns 93,500 shares of the restaurant operator’s stock worth $66,000 after acquiring an additional 24,600 shares during the last quarter. Geode Capital Management LLC boosted its position in Noodles & Company by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 389,421 shares of the restaurant operator’s stock worth $275,000 after acquiring an additional 27,384 shares during the last quarter. Jane Street Group LLC purchased a new stake in Noodles & Company during the 1st quarter valued at about $41,000. Finally, Virtu Financial LLC purchased a new stake in Noodles & Company during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Noodles & Company Stock Down 0.9%

Shares of Noodles & Company stock traded down $0.08 during mid-day trading on Wednesday, reaching $8.48. 24,305 shares of the stock traded hands, compared to its average volume of 78,809. The business has a 50-day moving average of $5.79 and a 200 day moving average of $5.73. Noodles & Company has a fifty-two week low of $3.57 and a fifty-two week high of $10.00. The stock has a market capitalization of $49.92 million, a PE ratio of -1.15 and a beta of 1.50.

Noodles & Company (NASDAQ:NDLS) last issued its quarterly earnings results on Wednesday, March 25th. The restaurant operator reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.29. The firm had revenue of $122.78 million during the quarter, compared to analyst estimates of $122.40 million. On average, equities research analysts expect that Noodles & Company will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NDLS shares. Wall Street Zen upgraded shares of Noodles & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Noodles & Company in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

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.