Noodles & Company (NASDAQ:NDLS) Short Interest Update

Key Points

• Short interest fell sharply — down 38.8% in April to 163,862 shares (about 2.9% of the stock) with a days-to-cover ratio of 3.0 based on average daily volume.
• Institutional buying accelerated, led by Goldman Sachs which increased its stake by 331% in Q1 to 110,666 shares; institutions and hedge funds now own about 65.67% of the company.
• Noodles reported Q1 EPS of ($0.43), beating estimates by $0.29 on $122.78M of revenue, and the stock recently traded near $11.55 with a market cap of $68.03M and a 12‑month range of $3.57–$12.11.

Noodles & Company (NASDAQ:NDLS - Get Free Report) was the recipient of a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 163,862 shares, a decrease of 38.8% from the March 31st total of 267,924 shares. Approximately 2.9% of the company's stock are short sold. Based on an average daily volume of 55,097 shares, the days-to-cover ratio is currently 3.0 days.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NDLS. Wall Street Zen upgraded Noodles & Company from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings restated a "sell (e+)" rating on shares of Noodles & Company in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce".

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NDLS. Goldman Sachs Group Inc. increased its position in Noodles & Company by 331.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 110,666 shares of the restaurant operator's stock valued at $121,000 after buying an additional 84,987 shares in the last quarter. Jane Street Group LLC acquired a new position in Noodles & Company during the 1st quarter valued at about $41,000. Assenagon Asset Management S.A. increased its position in Noodles & Company by 117.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 44,630 shares of the restaurant operator's stock valued at $32,000 after buying an additional 24,065 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Noodles & Company by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 389,421 shares of the restaurant operator's stock valued at $275,000 after purchasing an additional 27,384 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Noodles & Company by 34,246.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 49,802 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 49,657 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Noodles & Company Stock Performance

NASDAQ:NDLS traded up $0.24 during mid-day trading on Monday, hitting $11.55. 49,215 shares of the company's stock traded hands, compared to its average volume of 74,116. The company has a fifty day moving average of $7.16 and a 200 day moving average of $6.22. Noodles & Company has a twelve month low of $3.57 and a twelve month high of $12.11. The company has a market capitalization of $68.03 million, a P/E ratio of -1.56 and a beta of 1.18.

Noodles & Company (NASDAQ:NDLS - Get Free Report) last announced its earnings results on Wednesday, March 25th. The restaurant operator reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.29. The business had revenue of $122.78 million for the quarter, compared to analyst estimates of $122.40 million.

Noodles & Company Company Profile

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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