Traders Purchase High Volume of Call Options on Noodles & Co (NDLS)
Noodles & Co (NASDAQ:NDLS) was the recipient of some unusual options trading activity on Wednesday. Traders purchased 566 call options on the company, Analyst Ratings Network reports. This is an increase of 316% compared to the average daily volume of 136 call options.
Separately, analysts at Piper Jaffray cut their price target on shares of Noodles & Co from $47.00 to $38.00 in a research note on Monday, May 19th. They now have an “overweight” rating on the stock.
Shares of Noodles & Co (NASDAQ:NDLS) traded down 0.47% during mid-day trading on Wednesday, hitting $25.21. 1,073,952 shares of the company’s stock traded hands. Noodles & Co has a 1-year low of $25.00 and a 1-year high of $49.75. The stock has a 50-day moving average of $30.0 and a 200-day moving average of $34.37. The company has a market cap of $748.5 million and a price-to-earnings ratio of 102.97.
Noodles & Co (NASDAQ:NDLS) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.12 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.15 by $0.03. The company had revenue of $99.50 million for the quarter, compared to the consensus estimate of $103.00 million. Analysts expect that Noodles & Co will post $0.49 EPS for the current fiscal year.
Noodles & Company is a casual restaurant concept offering lunch and dinner. The Company offers noodle and pasta dishes, staples of many cuisines, with the goal of delivering fresh ingredients and flavors globally under one roof from Pad Thai to Mac & Cheese.
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