Noodles & Company (NASDAQ:NDLS – Get Rating) saw a large drop in short interest in the month of December. As of December 30th, there was short interest totalling 579,100 shares, a drop of 17.4% from the December 15th total of 700,800 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average trading volume of 136,100 shares, the days-to-cover ratio is currently 4.3 days.
Insiders Place Their Bets
In related news, major shareholder Mill Road Capital Iii, L.P. acquired 61,986 shares of the firm's stock in a transaction on Wednesday, December 21st. The stock was bought at an average cost of $4.97 per share, with a total value of $308,070.42. Following the transaction, the insider now owns 970,227 shares of the company's stock, valued at $4,822,028.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by insiders.
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Hedge Funds Weigh In On Noodles & Company
Several large investors have recently bought and sold shares of NDLS. Royce & Associates LP boosted its stake in Noodles & Company by 33.4% during the second quarter. Royce & Associates LP now owns 1,177,018 shares of the restaurant operator's stock valued at $5,532,000 after buying an additional 295,000 shares in the last quarter. PEAK6 Investments LLC boosted its position in shares of Noodles & Company by 102.6% in the 2nd quarter. PEAK6 Investments LLC now owns 24,956 shares of the restaurant operator's stock valued at $117,000 after purchasing an additional 12,636 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Noodles & Company in the second quarter worth approximately $54,000. AWM Investment Company Inc. increased its position in shares of Noodles & Company by 9.2% in the second quarter. AWM Investment Company Inc. now owns 595,803 shares of the restaurant operator's stock worth $2,800,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Noodles & Company in the first quarter worth approximately $40,000. Institutional investors and hedge funds own 89.08% of the company's stock.
Noodles & Company Stock Up 4.8 %
Shares of NDLS stock opened at $6.14 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.17 and a current ratio of 0.33. The business has a 50 day moving average of $5.58 and a two-hundred day moving average of $5.29. Noodles & Company has a 52 week low of $4.25 and a 52 week high of $9.63.
Noodles & Company (NASDAQ:NDLS – Get Rating) last issued its earnings results on Thursday, November 3rd. The restaurant operator reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.01). The company had revenue of $129.38 million during the quarter, compared to analyst estimates of $127.06 million. Noodles & Company had a negative net margin of 1.85% and a negative return on equity of 12.13%. As a group, equities analysts predict that Noodles & Company will post -0.01 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. StockNews.com assumed coverage on Noodles & Company in a research note on Wednesday, October 12th. They set a "hold" rating for the company. BMO Capital Markets raised their price objective on Noodles & Company from $5.00 to $6.00 and gave the company a "market perform" rating in a research note on Monday, November 7th. Finally, TheStreet raised Noodles & Company from a "d+" rating to a "c-" rating in a research note on Friday, October 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Noodles & Company has a consensus rating of "Hold" and a consensus target price of $7.75.
About Noodles & Company
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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. As of December 28, 2021, the company operated 448 restaurants in 29 states, which included 372 company locations and 76 franchise locations.
Read More
- Get a free copy of the StockNews.com research report on Noodles & Company (NDLS)
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