Noodles & Company (NASDAQ:NDLS) Stock Crosses Below 200-Day Moving Average After Earnings Miss

Noodles & Company (NASDAQ:NDLS) passed below its two hundred day moving average during trading on Thursday following a dissappointing earnings announcement. The stock has a two hundred day moving average of $1.03 and traded as low as $0.70. Noodles & Company shares last traded at $0.72, with a volume of 1,053,741 shares changing hands.

The restaurant operator reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Noodles & Company had a negative net margin of 8.70% and a negative return on equity of 278.23%. The company had revenue of $126.43 million during the quarter, compared to analyst estimates of $131.20 million.

Wall Street Analyst Weigh In

Separately, Wall Street Zen began coverage on shares of Noodles & Company in a report on Thursday, May 22nd. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On Noodles & Company

A number of institutional investors have recently modified their holdings of NDLS. Bridgeway Capital Management LLC raised its position in shares of Noodles & Company by 17.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 147,300 shares of the restaurant operator’s stock valued at $85,000 after buying an additional 21,800 shares during the last quarter. XTX Topco Ltd acquired a new position in Noodles & Company during the first quarter worth approximately $31,000. Goldman Sachs Group Inc. increased its position in Noodles & Company by 331.0% during the first quarter. Goldman Sachs Group Inc. now owns 110,666 shares of the restaurant operator’s stock worth $121,000 after purchasing an additional 84,987 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Noodles & Company during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Noodles & Company Price Performance

The firm’s 50-day moving average is $0.85 and its 200 day moving average is $1.03. The stock has a market cap of $33.17 million, a price-to-earnings ratio of -0.77 and a beta of 1.64.

About Noodles & Company

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.