ChromaDex (NASDAQ:CDXC) Cut to Buy at StockNews.com

StockNews.com cut shares of ChromaDex (NASDAQ:CDXC) from a strong-buy rating to a buy rating in a research note published on Friday morning.

Several other research firms also recently commented on CDXC. HC Wainwright increased their price objective on ChromaDex from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Roth Mkm raised their target price on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

ChromaDex Stock Performance

CDXC stock opened at $6.50 on Friday. The firm has a fifty day moving average price of $3.83 and a 200 day moving average price of $3.33. ChromaDex has a fifty-two week low of $1.32 and a fifty-two week high of $7.08. The firm has a market cap of $496.47 million, a PE ratio of 650.65 and a beta of 1.88.

ChromaDex (NASDAQ:CDXC) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.02 earnings per share for the quarter. ChromaDex had a return on equity of 4.85% and a net margin of 1.62%. The firm had revenue of $25.58 million during the quarter, compared to the consensus estimate of $23.70 million. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, equities analysts predict that ChromaDex will post 0.02 EPS for the current year.

Insider Buying and Selling at ChromaDex

In other news, Director Kristin Patrick sold 23,000 shares of ChromaDex stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $3.57, for a total value of $82,110.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.64% of the stock is owned by insiders.

Institutional Trading of ChromaDex

Hedge funds have recently added to or reduced their stakes in the business. Miracle Mile Advisors LLC acquired a new position in shares of ChromaDex in the 2nd quarter worth $27,000. The Manufacturers Life Insurance Company acquired a new stake in shares of ChromaDex in the second quarter worth about $31,000. Merriman Wealth Management LLC acquired a new position in shares of ChromaDex during the 2nd quarter worth about $32,000. Lazard Asset Management LLC acquired a new position in shares of ChromaDex during the 1st quarter worth about $43,000. Finally, SG Americas Securities LLC bought a new position in ChromaDex during the first quarter valued at about $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.