Noodles & Company (NASDAQ:NDLS) Stock Price Crosses Below 200-Day Moving Average – Should You Sell?

Noodles & Company (NASDAQ:NDLS) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.76 and traded as low as $0.6052. Noodles & Company shares last traded at $0.61, with a volume of 242,382 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NDLS. Benchmark cut shares of Noodles & Company from a “buy” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Noodles & Company in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $3.00.

Noodles & Company Trading Down 4.2%

The company has a market cap of $28.54 million, a P/E ratio of -0.62 and a beta of 1.61. The company’s fifty day moving average is $0.68 and its 200 day moving average is $0.76.

Noodles & Company (NASDAQ:NDLS) last posted its quarterly earnings results on Wednesday, November 5th. The restaurant operator reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $122.09 million for the quarter, compared to analyst estimates of $119.77 million. Analysts anticipate that Noodles & Company will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Noodles & Company

A number of large investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in shares of Noodles & Company during the first quarter valued at approximately $31,000. Jane Street Group LLC purchased a new stake in Noodles & Company during the 1st quarter valued at $41,000. Finally, Goldman Sachs Group Inc. grew its holdings in Noodles & Company by 331.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 110,666 shares of the restaurant operator’s stock worth $121,000 after acquiring an additional 84,987 shares during the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

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.