Noodles & Company (NASDAQ:NDLS) Sees Large Decrease in Short Interest

Noodles & Company (NASDAQ:NDLS - Get Free Report) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 523,700 shares, a decline of 19.0% from the September 15th total of 646,200 shares. Approximately 1.6% of the company's stock are sold short. Based on an average daily volume of 118,500 shares, the short-interest ratio is presently 4.4 days.

Institutional Investors Weigh In On Noodles & Company

A number of large investors have recently made changes to their positions in NDLS. Sierra Summit Advisors LLC bought a new stake in Noodles & Company during the fourth quarter valued at approximately $443,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Noodles & Company during the 1st quarter valued at $32,000. Vanguard Group Inc. increased its stake in shares of Noodles & Company by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,414,075 shares of the restaurant operator's stock worth $4,611,000 after purchasing an additional 17,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Noodles & Company in the 2nd quarter worth $31,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Noodles & Company in the 2nd quarter worth $99,000. 65.67% of the stock is currently owned by institutional investors.

Noodles & Company Stock Performance

NASDAQ NDLS traded down $0.01 during trading hours on Friday, hitting $1.13. The company's stock had a trading volume of 106,420 shares, compared to its average volume of 230,959. The company has a debt-to-equity ratio of 8.79, a current ratio of 0.32 and a quick ratio of 0.17. The company has a market cap of $51.24 million, a P/E ratio of -3.90 and a beta of 1.73. The company's 50 day simple moving average is $1.38 and its two-hundred day simple moving average is $1.62. Noodles & Company has a 12 month low of $1.06 and a 12 month high of $3.50.

Noodles & Company (NASDAQ:NDLS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The restaurant operator reported ($0.05) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.05). Noodles & Company had a negative net margin of 5.03% and a negative return on equity of 42.03%. The company had revenue of $127.35 million for the quarter, compared to the consensus estimate of $130.45 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. As a group, sell-side analysts expect that Noodles & Company will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Noodles & Company from a "sell" rating to a "hold" rating in a research note on Thursday, August 29th. Truist Financial reissued a "buy" rating and set a $4.00 price target on shares of Noodles & Company in a research report on Monday, July 1st.

About Noodles & Company

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. It operates company owned locations and franchise locations. The company was founded in 1995 and is based in Broomfield, Colorado.