Allspring Global Investments Holdings LLC Boosts Stake in Noodles & Company (NASDAQ:NDLS)

Allspring Global Investments Holdings LLC lifted its stake in Noodles & Company (NASDAQ:NDLS) by 164.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,095 shares of the restaurant operator’s stock after purchasing an additional 11,879 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Noodles & Company were worth $65,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NDLS. Punch & Associates Investment Management Inc. increased its stake in shares of Noodles & Company by 81.2% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 919,670 shares of the restaurant operator’s stock worth $4,460,000 after purchasing an additional 412,170 shares in the last quarter. FMR LLC increased its stake in Noodles & Company by 4.0% in the 1st quarter. FMR LLC now owns 6,292,667 shares of the restaurant operator’s stock worth $30,519,000 after buying an additional 243,431 shares in the last quarter. Soviero Asset Management LP increased its stake in Noodles & Company by 342.8% in the 4th quarter. Soviero Asset Management LP now owns 290,000 shares of the restaurant operator’s stock worth $1,592,000 after buying an additional 224,511 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Noodles & Company in the 3rd quarter worth $983,000. Finally, Royce & Associates LP increased its stake in Noodles & Company by 11.6% in the 1st quarter. Royce & Associates LP now owns 1,752,718 shares of the restaurant operator’s stock worth $8,501,000 after buying an additional 182,800 shares in the last quarter. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Noodles & Company from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Benchmark cut their price target on Noodles & Company from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 11th. Finally, Stephens cut their price target on Noodles & Company from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th.

Noodles & Company Trading Up 2.5 %

Shares of Noodles & Company stock opened at $3.05 on Friday. The firm has a market cap of $137.03 million, a price-to-earnings ratio of -50.83 and a beta of 1.49. The business has a 50-day moving average price of $2.42 and a 200-day moving average price of $3.08. The company has a quick ratio of 0.16, a current ratio of 0.30 and a debt-to-equity ratio of 1.97. Noodles & Company has a twelve month low of $1.96 and a twelve month high of $6.55.

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.