Noodles & Company (NASDAQ:NDLS) Shares Cross Above 50 Day Moving Average – Here’s Why

Noodles & Company (NASDAQ:NDLS)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.72 and traded as high as $0.77. Noodles & Company shares last traded at $0.7561, with a volume of 156,064 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen raised Noodles & Company to a “sell” rating in a research report on Saturday, December 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Noodles & Company in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $3.00.

Noodles & Company Stock Up 1.5%

The stock has a market cap of $35.37 million, a P/E ratio of -0.76 and a beta of 1.52. The company’s 50 day moving average price is $0.72 and its 200-day moving average price is $0.74.

Noodles & Company (NASDAQ:NDLS) last released 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 analysts’ expectations of $119.77 million. Equities research analysts anticipate that Noodles & Company will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Noodles & Company

An institutional investor recently raised its position in Noodles & Company stock. Goldman Sachs Group Inc. grew its holdings in shares of Noodles & Company (NASDAQ:NDLS) by 331.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,666 shares of the restaurant operator’s stock after buying an additional 84,987 shares during the quarter. Goldman Sachs Group Inc. owned 0.24% of Noodles & Company worth $121,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 65.67% of the company’s stock.

Noodles & Company Company Profile

Noodles & Company is an American fast-casual restaurant chain that specializes in a variety of noodle and pasta dishes inspired by global cuisines. Its menu features signature entrees such as the Wisconsin Mac & Cheese and Japanese Pan Noodles, alongside soups, salads, shareable sides and seasonal offerings. The brand emphasizes fresh ingredients, customizable meals and a quick-service format designed to accommodate dine-in, takeout and digital ordering channels.

The company was founded in 1995 by Aaron Kennedy in Boulder, Colorado, with the aim of introducing a diverse noodle-centric menu to the American market.