StockNews.com Initiates Coverage on Noodles & Company (NASDAQ:NDLS)

Investment analysts at StockNews.com began coverage on shares of Noodles & Company (NASDAQ:NDLS) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the restaurant operator’s stock.

Separately, Benchmark restated a “buy” rating and issued a $3.00 price target on shares of Noodles & Company in a research report on Monday, March 10th.

Noodles & Company Trading Down 4.9%

Shares of NDLS stock opened at $0.80 on Thursday. The firm has a 50 day moving average price of $0.98 and a two-hundred day moving average price of $1.01. The company has a quick ratio of 0.17, a current ratio of 0.31 and a debt-to-equity ratio of 23.66. The company has a market capitalization of $36.76 million, a PE ratio of -1.10 and a beta of 1.77. Noodles & Company has a 12-month low of $0.55 and a 12-month high of $2.20.

Noodles & Company (NASDAQ:NDLS) last announced its earnings results on Wednesday, May 7th. The restaurant operator reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The business had revenue of $123.79 million for the quarter, compared to the consensus estimate of $123.32 million. Noodles & Company had a negative return on equity of 108.23% and a negative net margin of 6.59%. As a group, analysts predict that Noodles & Company will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new stake in shares of Noodles & Company in the 1st quarter valued at about $41,000. Goldman Sachs Group Inc. increased its stake in shares of Noodles & Company by 331.0% in the first quarter. Goldman Sachs Group Inc. now owns 110,666 shares of the restaurant operator’s stock worth $121,000 after buying an additional 84,987 shares during the period. XTX Topco Ltd purchased a new position in shares of Noodles & Company in the first quarter valued at about $31,000. Finally, Bridgeway Capital Management LLC raised its position in Noodles & Company by 17.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 147,300 shares of the restaurant operator’s stock valued at $85,000 after purchasing an additional 21,800 shares during the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Noodles & Company Company Profile

Noodles & Co engages in the business of development and operation of fast-casual restaurants that serve noodle and pasta dishes, soups, salads, and appetizers. The firm also offers pleasant dining, pick-up, and delivery experiences by quickly preparing fresh food with friendly service. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.