ChromaDex Co. (NASDAQ:CDXC) Short Interest Down 5.4% in September

ChromaDex Co. (NASDAQ:CDXC) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 2,950,000 shares, a decrease of 5.4% from the August 31st total of 3,120,000 shares. Based on an average daily trading volume, of 387,800 shares, the days-to-cover ratio is presently 7.6 days. Currently, 6.2% of the company’s stock are sold short.

ChromaDex Stock Performance

Shares of CDXC stock opened at $3.65 on Tuesday. The firm has a market cap of $275.72 million, a price-to-earnings ratio of -73.00 and a beta of 1.86. ChromaDex has a 52 week low of $1.25 and a 52 week high of $4.65. The firm’s 50-day simple moving average is $3.27 and its two-hundred day simple moving average is $3.23.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CDXC. Roth Mkm restated a “buy” rating and issued a $6.00 target price on shares of ChromaDex in a research note on Wednesday, June 12th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of ChromaDex in a report on Friday, August 9th.

Insider Buying and Selling

In other ChromaDex news, Director Kristin Patrick sold 23,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.57, for a total transaction of $82,110.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ChromaDex

A number of hedge funds have recently modified their holdings of the stock. Miracle Mile Advisors LLC bought a new stake in ChromaDex in the 2nd quarter valued at about $27,000. The Manufacturers Life Insurance Company purchased a new position in shares of ChromaDex in the second quarter worth about $31,000. Merriman Wealth Management LLC bought a new stake in shares of ChromaDex in the second quarter valued at approximately $32,000. Lazard Asset Management LLC bought a new position in ChromaDex in the 1st quarter worth approximately $43,000. Finally, SG Americas Securities LLC bought a new stake in ChromaDex during the 1st quarter valued at $54,000. Institutional investors own 15.41% of the company’s stock.

ChromaDex Company Profile

ChromaDex Corporation operates as a bioscience company focusing on developing healthy aging products. The company operates through three segments: Consumer products; Ingredients; and Analytical Reference Standards and Services. It researches nicotinamide adenine dinucleotide (NAD+); provides finished dietary supplement products that contain its proprietary ingredients directly to consumers and distributors; and develops and commercializes proprietary-based ingredient technologies and supplies these ingredients as raw materials to the manufacturers of consumer products.