Noodles & Company (NDLS) Becoming More Attractive for Investors


Noodles & Company’s filing revealed that its EVP – Technology Kline Corey acquired Company’s shares for reported $9889.0 on Jun 02. In the deal valued at $3.41 per share,2,900 shares were bought. As a result of this transaction, Kline Corey now holds 52,141 shares worth roughly $ 0.15 million.

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Then, WEST THOMAS B bought 2,000 shares, generating $7,780 in total proceeds. Upon buying the shares at $3.89, the Chief Operating Officer now owns 155,323 shares.

Before that, Mill Road Capital III, L.P. bought 107,439 shares. Noodles & Company shares valued at $500,000 were divested by the 10% Owner at a price of $4.65 per share. As a result of the transaction, Mill Road Capital III, L.P. now holds 1,245,943 shares, worth roughly $3.53 million.

The Benchmark Company reiterated its Noodles & Company [NDLS] rating to a Buy in a research note published on Friday, August 11, 2023; the price target was $5. PT values the company’s stock at a premium of 43.4 to its Friday closing price.

Price Performance Review of NDLS

On Friday, Noodles & Company [NASDAQ:NDLS] saw its stock jump 1.80% to $2.83. On the same session, the stock had its day’s lowest price of $2.79, but rose to a high of $2.855. Over the last five days, the stock has gained 0.35%. Noodles & Company shares have fallen nearly -48.45% since the year began. Nevertheless, the stocks have fallen -40.42% over the past one year. While a 52-week high of $6.55 was reached on 02/03/23, a 52-week low of $2.67 was recorded on 08/10/23. SMA at 50 days reached $3.24, while 200 days put it at $4.61. A total of 0.63 million shares were traded, compared to the trading of 0.86 million shares in the previous session.

Levels Of Support And Resistance For NDLS Stock

The 24-hour chart illustrates a support level at 2.79, which if violated will result in even more drops to 2.76. On the upside, there is a resistance level at 2.86. A further resistance level may holdings at 2.89. The Relative Strength Index (RSI) on the 14-day chart is 37.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.33%. Stochastics %K at 9.10% indicates the stock is a buying.

How much short interest is there in Noodles & Company?

A steep rise in short interest was recorded in Noodles & Company stocks on Aug 14, 2023, growing by 0.45 million shares to a total of 1.2 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.75 million shares. There was a rise of 37.39%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.57% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.3.

Noodles & Company [NDLS] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 2,877,387 shares, or roughly 6.21% of the outstanding NDLS shares. In other words, the investor’s shares have fallen by -1,569,830 from its previous 13-F filing of 4447217.0. Additionally, BlackRock Fund Advisors increased 7.65% of its stake after which the total value it holdings stand at $8,732,954, while The Vanguard Group, Inc. reduced -0.36% of its stake to hold $7.91 million in the firm. Over the last quarter, FIAM LLC purchased 78,010 shares of Noodles & Company, while Royce & Associates LP bought 110,000 shares. At present, Wasatch Advisors, Inc. is holding 1,520,002 shares valued at $5.55 million. Kennedy Capital Management LLC owned 1,276,987 shares of the company at the time of its most recent 13F filing, worth $4.66 million.

According to FactSet, Noodles & Company’s share price will average $5.13 in the next year, based on opinions of analysts polled by the firm. This is up nearly 79.86 percent from its previous closing price of $2.78. Analysts expect Noodles & Company stock to reach the higher price of $5.50, while the lowest price estimate is $5.00. However, 4 analysts have rated NDLS stock as an Overweight in their predictions for 2023.


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