Short Interest in Noodles & Company (NASDAQ:NDLS) Grows By 33.5%

Noodles & Company (NASDAQ:NDLS) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 1,721,812 shares, a growth of 33.5% from the January 29th total of 1,289,686 shares. Based on an average daily volume of 325,110 shares, the short-interest ratio is currently 5.3 days. Currently, 30.2% of the company’s shares are sold short. Currently, 30.2% of the company’s shares are sold short. Based on an average daily volume of 325,110 shares, the short-interest ratio is currently 5.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of Noodles & Company by 331.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 110,666 shares of the restaurant operator’s stock worth $121,000 after acquiring an additional 84,987 shares during the period. Jane Street Group LLC acquired a new stake in shares of Noodles & Company during the first quarter worth $41,000. Assenagon Asset Management S.A. increased its position in 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 worth $32,000 after acquiring an additional 24,065 shares during the period. Geode Capital Management LLC increased its holdings in shares of Noodles & Company by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 389,421 shares of the restaurant operator’s stock worth $275,000 after purchasing an additional 27,384 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted 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 valued at $35,000 after buying an additional 49,657 shares during the period. Institutional investors own 65.67% of the company’s stock.

Noodles & Company Trading Up 7.0%

Shares of NASDAQ NDLS traded up $0.41 during mid-day trading on Monday, hitting $6.28. The company had a trading volume of 75,792 shares, compared to its average volume of 48,672. The firm has a 50-day simple moving average of $5.48 and a two-hundred day simple moving average of $5.55. The company has a market capitalization of $36.73 million, a PE ratio of -0.79 and a beta of 1.54. Noodles & Company has a one year low of $3.57 and a one year high of $11.52.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NDLS. Weiss Ratings reissued a “sell (e+)” rating on shares of Noodles & Company in a research note on Thursday, January 22nd. Wall Street Zen raised Noodles & Company to a “sell” rating in a research note on Saturday, December 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Noodles & Company currently has an average rating of “Reduce” and a consensus price target of $24.00.

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.