Noodles & Company (NASDAQ:NDLS) Share Price Passes Below 200-Day Moving Average of $2.60

Noodles & Company (NASDAQ:NDLS) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.60 and traded as low as $1.81. Noodles & Company shares last traded at $1.91, with a volume of 184,878 shares.

Analyst Ratings Changes

NDLS has been the topic of several research reports. Benchmark cut their price objective on Noodles & Company from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, March 12th. StockNews.com lowered Noodles & Company from a “hold” rating to a “sell” rating in a research report on Friday, March 8th.

Noodles & Company Stock Performance

The firm has a market capitalization of $85.93 million, a PE ratio of -8.68 and a beta of 1.68. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.34 and a quick ratio of 0.18. The stock has a 50-day moving average price of $2.36 and a 200-day moving average price of $2.59.

Hedge Funds Weigh In On Noodles & Company

Hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in Noodles & Company by 40.8% in the third quarter. Barclays PLC now owns 65,956 shares of the restaurant operator’s stock worth $162,000 after purchasing an additional 19,127 shares in the last quarter. Algert Global LLC grew its stake in Noodles & Company by 56.4% in the third quarter. Algert Global LLC now owns 60,510 shares of the restaurant operator’s stock worth $149,000 after purchasing an additional 21,820 shares in the last quarter. Portside Wealth Group LLC acquired a new position in Noodles & Company in the second quarter worth about $42,000. Innovis Asset Management LLC grew its stake in Noodles & Company by 93.5% in the third quarter. Innovis Asset Management LLC now owns 118,731 shares of the restaurant operator’s stock worth $292,000 after purchasing an additional 57,363 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in Noodles & Company by 16.5% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,139,196 shares of the restaurant operator’s stock worth $3,850,000 after purchasing an additional 161,342 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

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.