ChromaDex (NASDAQ:CDXC) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of ChromaDex (NASDAQ:CDXC) from a buy rating to a strong-buy rating in a research report released on Wednesday.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright upped their price target on ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Roth Mkm upped their price objective on shares of ChromaDex from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th.

ChromaDex Price Performance

Shares of ChromaDex stock opened at $5.44 on Wednesday. The firm’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $4.13. ChromaDex has a 12 month low of $1.36 and a 12 month high of $7.97. The stock has a market capitalization of $415.52 million, a price-to-earnings ratio of 544.54 and a beta of 2.15.

ChromaDex (NASDAQ:CDXC) last announced its earnings results on Thursday, October 31st. The company reported $0.02 EPS for the quarter. The business had revenue of $25.58 million during the quarter, compared to analysts’ expectations of $23.70 million. ChromaDex had a net margin of 1.62% and a return on equity of 4.85%. During the same period in the prior year, the company earned ($0.01) earnings per share. Analysts anticipate that ChromaDex will post 0.04 earnings per share for the current year.

Insider Activity at ChromaDex

In other ChromaDex news, Director Frank L. Jaksch, Jr. sold 37,161 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $6.19, for a total transaction of $230,026.59. Following the sale, the director now directly owns 244,179 shares in the company, valued at approximately $1,511,468.01. The trade was a 13.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in ChromaDex by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,149,592 shares of the company’s stock valued at $4,197,000 after purchasing an additional 17,963 shares in the last quarter. State Street Corp boosted its position in ChromaDex by 11.3% during the third quarter. State Street Corp now owns 618,028 shares of the company’s stock worth $2,256,000 after acquiring an additional 62,692 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of ChromaDex by 8.4% in the second quarter. Renaissance Technologies LLC now owns 416,100 shares of the company’s stock valued at $1,136,000 after purchasing an additional 32,400 shares during the period. WINTON GROUP Ltd acquired a new position in shares of ChromaDex during the 2nd quarter valued at about $597,000. Finally, Bank of New York Mellon Corp raised its stake in ChromaDex by 170.0% during the second quarter. Bank of New York Mellon Corp now owns 190,442 shares of the company’s stock worth $520,000 after purchasing an additional 119,915 shares during the period. 15.41% of the stock is currently owned by institutional investors and hedge funds.

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.