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

by · The Markets Daily

Noodles & Company (NASDAQ:NDLS – Get Free Report) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 318,969 shares, a drop of 81.5% from the February 12th total of 1,721,812 shares. Based on an average daily trading volume, of 78,799 shares, the short-interest ratio is currently 4.0 days. Approximately 5.6% of the company’s shares are short sold. Approximately 5.6% of the company’s shares are short sold. Based on an average daily trading volume, of 78,799 shares, the short-interest ratio is currently 4.0 days.

Noodles & Company Price Performance

NASDAQ:NDLS remained flat at $6.00 during trading hours on Tuesday. 118,018 shares of the company’s stock traded hands, compared to its average volume of 67,966. Noodles & Company has a one year low of $3.57 and a one year high of $10.80. The firm has a fifty day simple moving average of $5.57 and a 200 day simple moving average of $5.57.

Wall Street Analysts Forecast Growth

NDLS has been the topic of several research analyst reports. Wall Street Zen raised Noodles & Company to a “sell” rating in a research report on Saturday, December 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Noodles & Company in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Read Our Latest Analysis on Noodles & Company

Institutional Investors Weigh In On Noodles & Company

A number of large investors have recently added to or reduced their stakes in NDLS. Jane Street Group LLC acquired a new position in Noodles & Company in the 1st quarter worth $41,000. Virtu Financial LLC purchased a new position in Noodles & Company in the 4th quarter valued at about $28,000. Assenagon Asset Management S.A. grew its stake in shares of Noodles & Company by 117.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 44,630 shares of the restaurant operator’s stock valued at $32,000 after acquiring an additional 24,065 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Noodles & Company by 34,246.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 49,802 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 49,657 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Noodles & Company by 35.7% during the fourth quarter. Renaissance Technologies LLC now owns 93,500 shares of the restaurant operator’s stock worth $66,000 after acquiring an additional 24,600 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

About Noodles & Company

(Get Free Report)

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.

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