Noodles & Company (NASDAQ:NDLS) Shares Break Above 50-Day Moving Average - Here's What Happened

Key Points

• Noodles & Company shares rose 10.6%, breaking above their 50-day moving average of $13.84 and reaching as high as $14.63 before closing near $14.49.
• Analyst sentiment remains cautious: Wall Street Zen upgraded the stock to “buy,” Zacks Research raised it to “hold,” and Weiss Ratings maintained a “sell” rating. MarketBeat lists a consensus rating of “Reduce.”
• Institutional investors own 65.67% of the company, with Citadel Advisors and State Street recently establishing new positions while Assenagon slightly increased its holdings.

Shares of Noodles & Company (NASDAQ:NDLS - Get Free Report) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $13.84 and traded as high as $14.63. Noodles & Company shares last traded at $14.49, with a volume of 92,804 shares traded.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wall Street Zen raised Noodles & Company from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Noodles & Company in a research note on Friday, October 2nd. Finally, Zacks Research raised Noodles & Company to a "hold" rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Noodles & Company has a consensus rating of "Reduce".

Noodles & Company Stock Up 10.6%

The stock has a 50-day moving average of $13.84 and a 200 day moving average of $11.15. The stock has a market cap of $86.51 million, a PE ratio of -3.61 and a beta of 1.34.

Institutional Trading of Noodles & Company

Several institutional investors and hedge funds have recently bought and sold shares of NDLS. Citadel Advisors LLC purchased a new position in shares of Noodles & Company in the 2nd quarter valued at about $933,000. State Street Corp acquired a new position in Noodles & Company in the 2nd quarter worth about $340,000. Finally, Assenagon Asset Management S.A. raised its holdings in Noodles & Company by 2.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 56,315 shares of the restaurant operator's stock worth $746,000 after purchasing an additional 1,124 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.

About Noodles & Company

Noodles & Company is a fast-casual restaurant company headquartered in Broomfield, Colorado. Founded in 1995, the company operates restaurants serving dishes inspired by noodle and pasta traditions from around the world, with a menu designed to offer customizable meals in a casual setting.

Its menu includes noodle-based entrées such as Wisconsin Mac & Cheese, Japanese Pan Noodles, Pad Thai and spaghetti, along with salads, soups, desserts and beverages. The company also offers options intended to accommodate various dietary preferences, including vegetarian and gluten-sensitive choices, where available.

Noodles & Company serves customers primarily through company-operated and franchised restaurants in the United States.

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