Short Interest in Noodles & Company (NASDAQ:NDLS) Declines By 81.5%

Noodles & Company (NASDAQ:NDLS) saw a significant drop in short interest in 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 days-to-cover ratio is currently 4.0 days. Approximately 5.6% of the shares of the company are sold short. Approximately 5.6% of the shares of the company are sold short. Based on an average daily trading volume, of 78,799 shares, the days-to-cover ratio is currently 4.0 days.

Hedge Funds Weigh In On Noodles & Company

Several hedge funds and other institutional investors have recently made changes to their positions in NDLS. Goldman Sachs Group Inc. boosted its position 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 in the last quarter. Jane Street Group LLC acquired a new position in Noodles & Company during the first quarter valued at approximately $41,000. Assenagon Asset Management S.A. raised 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 valued at $32,000 after purchasing an additional 24,065 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in 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 worth $35,000 after purchasing an additional 49,657 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NDLS. Weiss Ratings restated a “sell (e+)” rating on shares of Noodles & Company in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Noodles & Company Price Performance

NDLS stock traded up $0.02 during midday trading on Wednesday, reaching $6.02. The company had a trading volume of 41,059 shares, compared to its average volume of 50,828. The company has a market capitalization of $35.20 million, a price-to-earnings ratio of -0.76 and a beta of 1.50. The stock has a 50 day moving average price of $5.57 and a 200-day moving average price of $5.57. Noodles & Company has a 1-year low of $3.57 and a 1-year high of $10.00.

About Noodles & Company

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.