Wall Street Zen Begins Coverage on Noodles & Company (NASDAQ:NDLS)

Wall Street Zen assumed coverage on shares of Noodles & Company (NASDAQ:NDLS) in a research note issued to investors on Thursday. The brokerage issued a sell rating on the restaurant operator’s stock.

Separately, Benchmark restated a “buy” rating and issued a $3.00 price objective on shares of Noodles & Company in a research report on Monday, March 10th.

Noodles & Company Stock Down 3.9%

Noodles & Company stock opened at $0.77 on Thursday. The company has a debt-to-equity ratio of 23.66, a quick ratio of 0.17 and a current ratio of 0.31. The firm has a market capitalization of $35.32 million, a price-to-earnings ratio of -1.05 and a beta of 1.77. Noodles & Company has a fifty-two week low of $0.55 and a fifty-two week high of $2.20. The stock’s fifty day moving average is $0.98 and its two-hundred day moving average is $1.00.

Noodles & Company (NASDAQ:NDLS) last issued its quarterly earnings data on Wednesday, May 7th. The restaurant operator reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.10). Noodles & Company had a negative net margin of 6.59% and a negative return on equity of 108.23%. The company had revenue of $123.79 million during the quarter, compared to analysts’ expectations of $123.32 million. Analysts predict that Noodles & Company will post -0.43 EPS for the current fiscal year.

Institutional Trading of Noodles & Company

Several institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in Noodles & Company during the first quarter worth about $31,000. Jane Street Group LLC purchased a new position in Noodles & Company during the first quarter worth about $41,000. Goldman Sachs Group Inc. lifted its position in 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 during the period. Finally, Bridgeway Capital Management LLC lifted its position in Noodles & Company by 17.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 147,300 shares of the restaurant operator’s stock worth $85,000 after buying an additional 21,800 shares during the period. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

About Noodles & Company

Noodles & Co engages in the business of development and operation of fast-casual restaurants that serve noodle and pasta dishes, soups, salads, and appetizers. The firm also offers pleasant dining, pick-up, and delivery experiences by quickly preparing fresh food with friendly service. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.