Noodles & Company (NASDAQ:NDLS) Short Interest Update

Noodles & Company (NASDAQ:NDLS) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 523,700 shares, a decline of 19.0% from the September 15th total of 646,200 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average trading volume of 118,500 shares, the days-to-cover ratio is currently 4.4 days.

Noodles & Company Stock Performance

NDLS traded down $0.01 during midday trading on Friday, hitting $1.13. 106,420 shares of the company were exchanged, compared to its average volume of 230,959. The company’s 50 day simple moving average is $1.38 and its 200 day simple moving average is $1.62. The firm has a market capitalization of $51.24 million, a price-to-earnings ratio of -3.90 and a beta of 1.73. Noodles & Company has a 1-year low of $1.06 and a 1-year high of $3.50. The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 8.79.

Noodles & Company (NASDAQ:NDLS) last posted its earnings results on Wednesday, August 7th. The restaurant operator reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). Noodles & Company had a negative return on equity of 42.03% and a negative net margin of 5.03%. The firm had revenue of $127.35 million for the quarter, compared to analyst estimates of $130.45 million. During the same period last year, the company earned ($0.02) earnings per share. As a group, sell-side analysts predict that Noodles & Company will post -0.33 earnings per share for the current year.

Hedge Funds Weigh In On Noodles & Company

Several large investors have recently made changes to their positions in the company. Nantahala Capital Management LLC increased its position in shares of Noodles & Company by 6.8% in the second quarter. Nantahala Capital Management LLC now owns 4,308,329 shares of the restaurant operator’s stock valued at $6,807,000 after buying an additional 275,000 shares in the last quarter. Vanguard Group Inc. increased its position 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. Sierra Summit Advisors LLC acquired a new stake in shares of Noodles & Company in the fourth quarter valued at about $443,000. Creative Planning lifted its stake in Noodles & Company by 83.2% in 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. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Noodles & Company during the second quarter worth approximately $99,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NDLS has been the topic of a number of recent research reports. Truist Financial reaffirmed a “buy” rating and set a $4.00 price objective on shares of Noodles & Company in a research report on Monday, July 1st. StockNews.com upgraded shares of Noodles & Company from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th.

About Noodles & Company

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.