Noodles & Company Stock to Reverse Split on Wednesday, February 18th (NASDAQ:NDLS)

Shares of Noodles & Company (NASDAQ:NDLS) are set to reverse split on the morning of Wednesday, February 18th. The 1-8 reverse split was announced on Wednesday, February 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, February 17th.

Noodles & Company Trading Down 14.7%

Noodles & Company stock opened at $0.55 on Friday. The firm has a market capitalization of $25.73 million, a P/E ratio of -0.56 and a beta of 1.54. Noodles & Company has a 1 year low of $0.55 and a 1 year high of $1.74. The business has a 50-day moving average of $0.75 and a 200-day moving average of $0.74.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Noodles & Company to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Noodles & Company in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $3.00.

Hedge Funds Weigh In On Noodles & Company

A number of large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Noodles & Company by 117.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 44,630 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 24,065 shares during the period. Jane Street Group LLC acquired a new position in shares of Noodles & Company during the first quarter worth about $41,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of 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 buying an additional 84,987 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

About Noodles & Company

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.